Housing Market Statistics | July 2021
Housing market continues to moderate in June
National Home Sales

Home sales recorded over Canadian MLS® Systems fell by 8.4% month-over month in June 2021, marking the third straight monthly slowdown since activity hit an all-time record back in March.

Actual Activity

The actual (not seasonally adjusted) national average sale price posted a 25.9% year-over-year gain in June.

“ While there is still a lot of activity in many housing markets across Canada, things have noticeably calmed down in the last few months. There remains a shortage of supply in many parts of the country, but at least there isn’t the same level of competition among buyers we were seeing a few months ago. "
~ Cliff Stevenson, Chair of CREA
Newly Listed Homes

The number of newly listed homes edged back a slight 0.7% in June compared to May.

MLS® Price Index

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.9% month-over-month in June 2021, continuing the trend of decelerating month-over-month growth that began in March.

National Average Sale Price

The actual (not seasonally adjusted) national average home price was a little over $679,000 in June 2021, up 25.9% from the same month last year.

“ It feels like maybe the theme of this summer is ‘slowly getting back to normal,’ in our own lives and for many housing markets across Canada as well. That said, it’s a long road to get back to normal, and for many housing markets the main issue is that supply shortages are as acute as ever. ”
~ Shaun Cathcart, CREA’s Senior Economist

The national average price is also heavily influenced by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts more than $135,000 from the national average price.