Canada home resales fall 6.8 pct in July

* Home resales in July fall to 31,536

* Average price edges up 1 pct to C$330,351

TORONTO, Aug 16 (BestGrowthStock) – Sales of existing homes in
Canada in July slipped 6.8 percent, almost entirely because of
fewer sales in the two big provinces of British Columbia and
Ontario, according to the Canadian Real Estate Association on
Monday.

The industry group said a total of 31,536 homes changed
hands in July, and sales were down 30 percent from a year ago.

“A slowdown in demand in these two provinces had been
widely expected in July, as many purchases were brought forward
into the first half of the year in advance of the introduction
of the (harmonized sales tax),” the group said.

Both provinces account for the majority of national sales.

CREA said the national average price in July was C$330,351
($317,645), edging up 1 percent from the same month last year.

The number of new listings fell 7.2 percent from the
previous month.

($1=$1.04 Canadian)

(Reporting by Ka Yan Ng; Editing by Chizu Nomiyama )

Canada home resales fall 6.8 pct in July