Canada\u0027s home sales, meanwhile, edged down just 1% between July and August. Read more.
Sales volumes fell by 24.7 per cent on a year-over-year basis, but edged down just one per cent from July to August, making it the smallest of six consecutive month-over-month declines in sales volumes, the group’s data showed.We deliver the local news you need in these turbulent times on weekdays at 3 p.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“For instance, sales are still 30 per cent below pre-pandemic levels in Toronto, supply/demand balances continue to favour buyers, and benchmark prices declined at a hefty two per cent monthly rate,” Sondhi wrote. “I think, because some buyers have seen house prices come down 10 or 20 per cent where they’re looking and some buyers are still holding mortgage rate pre-approvals from a couple of months ago, before the Bank of Canada really cranked up interest rates. So they have a pretty good window right now to actually buy something.”
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