Canadian Home Buyer August 2019

ROSS KAY REALTY CONSULTANTS
CANADIAN HOME BUYER REPORT
AUGUST 2019

National Market
Canadian Home Buyers Pay Less in August

Burlington, ON, September 26, 2019 - Analysis released today by Ross Kay Realty Consultants (RKRC) show national home acquisitions recorded lower purchase prices being paid in August 2019.

HIGHLIGHTS:

National home purchases (trading day adjusted) declined 6.1% month-over-month (m-o-m) in August.
Home Buyers Rejected 84.6% of homes on the market in August.
Actual Homes removed from the market in August reached 10.1% higher than the 10 year average.
72.6% of all Home Buyers acquiring homes in August paid less than the estimated appraised value of the year before.
The average sale price was skewed upward on lower prices being asked on single detached homes
The Median Asking Price for a Canadian Home during August peaked above $400,000 indicating existing owners were looking to trade up.

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PLEASE NOTE: The information contained in this report combines both audited and unaudited transactional data from real estate transactions where the transaction became firm and binding in the month cited.
RKRC states that average purchase price information is the most reliable in establishing trends over time and that the appraisal process used to determine change in home price values is solely reliant on this measure. Information contained in this report includes all buyer categories.

Ross Kay Realty Consultants
Further information can be found at http://crea.ca/statistics.
SOURCE Ross Kay Realty Consultants
For further information: E-mail: rosskay@rosskay.com