June house sales in Canada up 3.3% from May

by steve on July 30, 2013

Sales increase

If there’s a sign mortgage rates are about to rise, house sales stats in Canada might just be it.

According to the Canadian Real Estate Association, house sales in Canada jumped 3.3% from May. This also marks the fourth month in a row where house sales in Canada have increased.

A report by CREA suggests the jump may be due to the recent increase in fixed mortgage rates. Makes sense to me; Canadians looking to buy houses, condos, and property are eager to get into the real estate market before rates go up. And as we push further towards 2014–when rates are expected to jump–it will be interesting to note if this increase in Canadian house sales continues.

Have a look at this Reuters Canada article for more information.

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Photo credit: amit1077 via flickr

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