The average price of a Canadian home that sold last month was $586,000. CREA says the average price can be misleading because big sales in expensive markets like Toronto and Vancouver can skew the number. "It really does seem that the spring market shifted into the summer." "While Canadian housing markets have made a habit of mocking them in the past, the fundamentals augur for at least a partial retrenchment of sales activity over the remainder of the year." "The real question is what the spring market looks like... it's a bit counterintuitive and it's unclear to me that this can be sustained going forward."

Source: CBC News September 15, 2020 13:45 UTC