BrokerageIndustry News

Canadian home sales, prices fall in July

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Editor's note: The following is a roundup of international real estate news items. Canada's real estate market cools A report this week from the Canadian Real Estate Association found that July home sales in Canada's major markets were down 10.9 percent from the same month last year -- 27,889 homes compared with 31,286 in July 2007. July's average home price of $327,020 fell 3.6 percent from $339,277 a year ago, a decline the association attributed to "fewer sales compared to a year ago in the four most expensive major markets -- Vancouver, Victoria, Calgary and Toronto." New listings on the market jumped 11.4 percent in the last 12 months from 46,858 to 52,214. Year-over-year sales were strongest in Trois-Rivières (up 33.8 percent), Edmonton (up 16 percent), Quebec (up 14.8 percent), Thunder Bay (up 14.1 percent) and Winnipeg (up 12.8 percent). Sales were weakest in Greater Vancouver (-44 percent), Regina (-35 percent), Victoria (-32 percent), Saskatoon (-17....