Home Business Canada home prices and sales fall again in July

Canada home prices and sales fall again in July

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OTTAWA — Canada’s average resale home price fell 4.5% from a year ago in July and was down 5.4% on the month as buyers continued to sit on the sidelines amid rising borrowing costs, data from the Canadian Real Estate Association showed on Monday.

The national average selling price dipped to C$629,971 ($487,254) in July, with prices down 22.9% from February’s peak amid plunging sales. CREA’s home price index edged down 1.7% on the month, but was still up 10.9% annually. ($1 = 1.2929 Canadian dollars) (Reporting by Julie Gordon in Ottawa; Editing by Mark Porter)



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