Statistics released today by the Canadian Real Estate Association (CREA) show national home sales and new listings continued to rebound in July 2020, with new listings hitting their highest level on record for the month of July, while sales posted the highest level of any month in history.

Home sales recorded over Canadian MLS^® Systems rebounded by a further 26% in July 2020, raising them to the highest monthly level ever recorded.

For the third month in a row, transactions were up on a m-o-m basis across the country. Among Canada’s largest markets, sales rose by 49.5% in the Greater Toronto Area (GTA), 43.9% in Greater Vancouver, 39.1% in Montreal, 36.6% in the Fraser Valley, 31.8% in Hamilton-Burlington, 28.7% in Ottawa, 16.9% in London and St. Thomas, 15.7% in Calgary, 12.1% in Winnipeg, 9.7% in Edmonton and 5.4% in Quebec City.

Actual (not seasonally adjusted) sales activity posted a 30.5% y-o-y gain in July. The 62,355 transactions recorded in July 2020 marked the highest monthly sales figure on record going back more than 40 years.

“With more and more of regular everyday life opening back up, REALTORS^® and their clients across Canada are making up for lost time, and it’s been a very busy summer as a result,” stated Costa Poulopoulos, Chair of CREA. “With sellers and buyers returning to the market in record numbers as lockdowns are increasingly lifted, we continue to make sure clients stay safe by complying with government and health officials’ directives and advice, while continuing to use virtual technology to show properties and complete required forms and contracts. Now more importantly than ever, REALTORS^® remain the best source for information and guidance when negotiating the sale or purchase of a home,” continued Poulopoulos.

Keep reading this press release on CREA.ca