It has been a decidedly slow week leading into the Labour Day long weekend — a lack of buyers and sellers over the last lazy stretch of summer has led to month-over-month and year-over-year sales declines across all home types.
Detached houses for sale saw the smallest decrease, with activity down -28 per cent from the same week in 2017. That’s compared to a -48 per cent drop for semi-detached homes, and -31 per cent and -38 per cent declines for townhouses and condos, respectively.
The end of August is proving to be much softer than July, as month-over-month sales fell between -54 and -62 per cent.
Now that the kids are back in school, though, all eyes are on the September market and whether the long-awaited fall uptick will materialize.