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Canada Home Sales Continue Surge, Rising 26% to Record in July

Homes in East Gwillimbury, Ontario, Canada. 

Homes in East Gwillimbury, Ontario, Canada. 

Photographer: Cole Burston/Bloomberg

Canadian home sales surged to a record in July as homebuyers emerged from lockdowns.

Transactions for existing properties reached 62,355 in the month, up 26% from a month earlier, the Canadian Real Estate Association reported. Benchmark prices were 2.3% higher on the month, as pent-up demand for homes collided with extremely low inventory levels.