While Vancouver and Toronto chill out, Montreal home sales post best July in 8 years + MORE Aug 5th

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Litt is pressuring the retailer to make better use of its vast real estate assets

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Forget Vancouver and Toronto _ Canada’s hottest housing market these days may be Montreal.
The Greater Montreal Real Estate Board says 3,075 homes were sold in July, climbing 16 per cent compared to a year ago and the most for the month in eight years.
That contrasts with Toronto, where sales last month plunged 40.4 per cent while in Vancouver they dropped 8.7 per cent.
The price of homes in Montreal was also higher, albeit still well short of levels seen in Vancouver and Toronto.
The median price of a single-family home in Montreal rose to $323,000 in July, up eight per cent from a year ago.
The median condominium price edged up two per cent to $256,000.
The post While Vancouver and Toronto chill out, Montreal home sales post best July in 8 years appeared first on Canadian Business – Your Source For Business News.

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Departure comes alongside co-chief investment officer Scott Colbourne

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The economy extended its winning streak in July, posting its eighth consecutive month of job growth while the unemployment rate dropped to its lowest point since the start of the financial crisis nearly nine years ago.
The unemployment rate fell 0.2 percentage points to 6.3 per cent, a level not seen since October 2008, as the number of people looking for work declined, Statistics Canada reported Friday.
The decrease came as the economy pumped out 10,900 net new jobs for the month. That followed staggering employment growth of 45,300 in June and 54,500 in May.
“We can forgive the economy for taking a bit of a breather on job gains in July, given how torrid the pace has been in the prior two months,” Avery Shenfeld, chief economist of CIBC Capital Markets, said in a note to clients.
The July data was fuelled by the addition of 35,100 full-time jobs, offset by the loss of 24,300 part-time positions.
Compared with a year ago, the number of jobs has increased by 388,0000, driven by a surge in 354,000 full-time positions…

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