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August Home Sales Continue Decline After BOC Resumed Rate Hikes

CANADA DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income NewsForeign Exchange News
  • Canadian Real Estate Association says Friday that August sales -4.1% MOM after -0.7% in July.
  • "August was the first full month of housing data following the Bank of Canada's July rate hike, so a dip in activity was expected."
  • New listings +0.8% MOM, closer to average levels.
  • Average resale price +2.1% YOY.
  • Price index +0.4% YOY, the first increase since September 2022. Trend will continue as home prices declined in H1 2022.
  • Affordability has become a political flashpoint, with PM Trudeau on Thursday announcing tax break on new rental construction as he lags rivals in recent polls.
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  • Canadian Real Estate Association says Friday that August sales -4.1% MOM after -0.7% in July.
  • "August was the first full month of housing data following the Bank of Canada's July rate hike, so a dip in activity was expected."
  • New listings +0.8% MOM, closer to average levels.
  • Average resale price +2.1% YOY.
  • Price index +0.4% YOY, the first increase since September 2022. Trend will continue as home prices declined in H1 2022.
  • Affordability has become a political flashpoint, with PM Trudeau on Thursday announcing tax break on new rental construction as he lags rivals in recent polls.