Although August’s 1 per cent dip in national existing home sales was the sixth straight monthly drop, it was the smallest of these drops and may indicate that sales are bottoming out.
Listings fell 5 per cent in August, putting listings roughly equal to their year-ago volume.
Sales and listings trends were mixed. Transactions dropped in 18 of our 30 markets in August—including 11 areas where the monthly decline exceeded 5 per cent—but were up in 12 areas.
Sales rose 11 per cent in Toronto during August, breaking a streak of five monthly declines. Transactions continued to dip in Vancouver, Calgary, and Montréal in August, but all declines were in single digits.
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