September 14, 2013
Homes were selling at a brisk pace in Vancouver and Toronto last month, while the national average price continued to rise, suggesting Canada's real estate industry has returned to "average levels" after a decline that began last summer.
The Canadian Real Estate Association's report on activity for July showed resales edging up 0.2 per cent from June on a seasonally adjusted basis and up 9.4 per cent from July 2012, when tighter rules put the brakes on lenders and buyers.
Despite the recent uptick, the total of 284,865 homes that traded hands in the first seven months of 2013, is 4.6 per cent fewer than the corresponding period last year.
Read more: http://www.vancouversun.com/business/real-estate/Vancouver+real+estate+market+boosts+national+housing/8793675/story.html#ixzz2et6vCM4b