(Ottawa) Residential property sales fell by about 4% last month in Canada, compared to the previous month, the Canadian Real Estate Association (CREA) said on Friday.
Sales totaled 38,345 in August, seasonally adjusted, compared to 39,996 in July.
The actual number of sales stood at 40,257 in August, up 5.3% from the same month last year.
CREA noted that national sales numbers were dragged down in August by declines in Greater Vancouver and the Fraser Valley in British Columbia, Montreal, Ottawa, Hamilton and Burlington, Ontario, as well as as in London and St. Thomas, also in Ontario.
The seasonally adjusted average price of a property in August decreased 2.3% from July to $674,184, while the actual price increased 2.1% from a year earlier for reach $650,140.
The number of new registrations reached 69,438, an increase of 5.5% compared to the previous August, helping to balance supply and demand.