Existing home sales data from CREA

Canadian home sales
  • Prior was +1.9%
  • Prices up 1.7% y/y in June

Sales were flat for the month but are up 10% from the six-year low hit in February.

"There's a growing divergence in Canadian housing market trends between eastern and western Canada. While sales activity in Canada's three westernmost provinces appears to have stopped deteriorating, it will be some time before supply and demand there becomes better balanced and the outlook for home prices improves," said Gregory Klump, CREA chief economist.