Canada’s real estate industry is bouncing back nicely as we course through the pandemic.
The Canadian Real Estate Association (CREA) says the market roared back to life in July with sales up 26 per cent from June and 14 per cent better than a year ago.
CREA’s chief economist Shaun Cathcart calls it the snapback in activity that would have happened earlier in the year were it not for COVID.
The sales boom in July was led by Canada’s biggest cities, as home sales rose by 49.5 per cent in the Greater Toronto Area, 43.9 per cent in Greater Vancouver and by 39.1 per cent in Montreal.
The average selling price in July was $571,500, an increase of 14.3 per cent from the same level a year earlier.
Locally, the Barrie and District Association of Realtors (BDAR) reported a nine per cent increase in sales from June to July, year-over-year it was 21 per cent.
The average price in Barrie in July was $571,875.