Despite some fledgling signs of life to kick off the long-awaited monetary policy easing cycle, Canadian housing market activity still looks to be stuck in the same holding pattern it's been in all year.
The Canadian Real Estate Association reported that home sales increased 1.3 per cent month-over-month in August, but were down 2.1 per cent from the same time a year ago.
The national average home price was $649,100 in August, nearly unchanged from the same period a year before.
A second interest rate cut from the Bank of Canada in late July gave another gentle boost to the housing market, but the bigger picture showed little change.
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