Dr. Sherry Cooper is the Chief Economist for Dominion Lending Centres and provided an update!
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Summary:
- For August 2020, sales and new listings hitting their highest levels in 40 years of data.
- National home sales rose a further 6.2$ on a month-over-month basis in August.
- Actual (not seasonally adjusted) sales activity posted a 33.5% y-o-y gain in August.
- The national sales-to-new listings ratio eased to 69.4% in August compared to 72.3% posted in July
- The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose by 1.7% m-o-m in August 2020