Sales activity increase led by lower-priced homes

Increased sales and easing new listings reduced housing inventories in August. Sales were primarily driven by homes priced below $500,000.

“Employment numbers have been improving, but mostly in industries that are traditionally lower paid,” said CREB® chief economist Ann-Marie Lurie. “This is contributing to the shift that we are seeing in the housing market, with growth being limited to product priced below $500,000.”

Rising sales for homes priced under $500,000 offset sales declines in the higher price ranges. This caused August sales to improve by six per cent compared to last year.

Sales activity improved for all product types. The growth was largest for apartment-style and attached properties. Attached sales increased for the sixth consecutive month compared to the previous year. This is also the only property type with year-to-date sales higher than last year’s levels.

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With kids going back to school, the weather getting cooler and the days getting shorter, September can often be a hectic month. As we start to move into colder days, it is important to make sure that your home is prepared for the coming seasons—no one wants to have to do repairs in the rain! These September home maintenance tips can help you make sure that your home is in the best shape possible for fall and winter.

Repair Any Cracks in Your Concrete

Cracks in your driveway or walkways can become huge issues after a cold winter! When water freezes in these cracks, it can expand and further damage your concrete leaving you with one seriously bumpy driveway. While small cracks can be repaired with supplies from your local hardware store, larger cracks may require the help of a professional.

Clear Debris from Your Gutters

The falling leaves of fall can quickly clog the gutters of your home. Clogged gutters can cause a host of issues including damaging the gutter itself and causing potential leaks in your home. By cleaning out your home’s gutters now, you can decrease your chances of having an unexpected leak in the future.

Inspect Your Roof for Wear and Tear

September is your last chance to give your roof a quick inspection to make sure it is ready for the colder, wetter months ahead. Keep an eye out for any missing shingles or cracks you can find. While it might be too late in the year for a new roofing project, temporary fixes such as roof sealant or replacing shingles can limit the chances of potential leaks during rainy days.