16 September 2013
August 2013 – Canadian home sales rose by 2.8%
The real estate market activity keeps growing as August home sales rose by 2.8% from July. In addition to it, last month’s sales were up by 11.1% from a year ago.
According to the Canadian Real Estate Association (CREA), the latest mortgage rate increase made those who already had mortgage approvals act faster and buy houses sooner than they had planned.
Meanwhile, a big spike in activity from the previous year can be explained by the sales decline last summer as Ottawa implemented stricter mortgage rules…