Canadian home sales rose for the fourth consecutive month in July as supply tightened and prices stabilized, moving the market closer to balance. The national average sale price was $674,819, up 0.2% year-over-year. New listings declined 1.6%, pushing the sales-to-new-listings ratio to 51.3%, near the long-term average. National inventory fell to 4.7 months, slightly below the five-month average, indicating a balanced market.
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