Mortgage Calculator

Calculate Your Payments

  Buyer Resources

Best Real Estate Advice

  Seller Resources

Selling For Top Dollar

  Mobile Listings

Search Anywhere Always

  Here To Help You

You Can Contact Me Always

August 2020 - Record Setting Month in Canadian Housing Markets

According to The Canadian Real Estate Association, August 2020 was by another record-setting month in the Canadian Housing Markets, heavily influenced by B.C’s lower mainland. In addition to a rise in new listings, jumping by 10.6% from July to August. Sales transactions were up in almost all Canadian housing markets compared to August 2019. The report reads that “the actual national average home price set another record in August 2020, up 18.5% from August 2019. ”Due to many markets suffering from inventory shortage, there has been fierce competition among buyers this summer. By the end of the month, there were only 2.6 months of inventory across the country, which is the lowest reading on record for this measure. Many properties have been shown virtually or by appointment only with PPE and sanitization protocol, due to the safety regulations put into place to protect buyers and sellers.

(Source: The Canadian Real Estate Association, 2020)


Comments:
No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Please note, your email will not be shown publicly
Your Email (will not be published): *
Comment: *
Please type the text as it appears above:
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.