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Chaim Talpalar

Sales Representative

Harvey Kalles Real Estate Ltd., Brokerage
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Home Sales Edge Up Slightly...

The boom in Canada's housing market continued in August with sales of existing homes edging up .3% month over month & holding at levels not far off the five-year high reached in May, according to the CREA. In its latest survey released September 15, 2015, CREA says sales of existing homes were little changed from July in all local markets, with an even split between those posting increases & those showing declines. On a full year basis, actual sales were up 4% compared with August 2014 & were 6.6% above the 10 year average for the month. Prices continued to rise in Ontario & B.C. "where listings are either in short supply or heading in that direction," said CREA chief economist Gregory Klump, who noted that the month also provided "early evidence that modest price growth is re-emerging in some markets in Quebec & New Brunswick." Klump added that enduring low interest rates continued to boost home sales & were "likely to keep doing so for some time."

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