OTTAWA — The Canadian Real Estate Association says there were fewer housing resales nationally in July for the second month in a row, but the number of transactions remained near the highest levels in several years and prices continued to climb.
CREA says last month's decline was largely because of a slight downturn in the Hamilton-Burlington and Durham Region areas of southern Ontario after they hit record levels in June.
It says Calgary's sales were down from July 2014, but remained in line with long-term averages.
Overall, CREA says most of the strength in sales in July was focused on Vancouver, Toronto and surrounding markets.
The association's price index was up 5.9 per cent from July 2014, accelerating from a 5.4 per cent increase in June.
Its national average price for properties sold in July was $437,699, up 8.9 per cent from the same month last year.
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