Home resales pick up in July

OTTAWA ― National home sales via Canadian MLS systems rose 1.9% in July, the Canadian Real Estate Association reports, building on increases in each of the two previous months but still running below levels recorded from mid-2013 to the end of last year. Led by the Greater Toronto Area, more than half of all local housing markets reported an increase sales activity from June to July. Actual (not seasonally adjusted) activity was down 1.3% year over year. The result reflects fewer sales in major urban centres in British Columbia and an offsetting improvement in activity in the GTA.