Home resales hit another record in August

OTTAWA — Sales of existing Canadian homes rose a further 6.2 percent in August, the Canadian Real Estate Association reports, raising them to another new all-time monthly record. Unlike the previous two months in which activity was up right across the country, sales in August were up in about 60 percent of local markets. Gains were led by the Greater Toronto Area and British Columbia’s Lower Mainland. Actual (not seasonally adjusted) sales activity posted a 33.5 percent year-over-year gain in August. It was a new record for the month and the sixth-highest monthly sales figure of any month on record. Transactions were up compared to last August in almost all Canadian housing markets.