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HST blamed for drop in sales across the country

Posted by Arshad Rashed on Monday, August 30th, 2010 at 12:16pm.

Housing sales were down 30% in July from a year ago, and the Canadian Real Estate Association blames the drop on the new harmonized sales tax in Ontario and British Columbia.  The Ottawa-based group, which represents 100 real estate boards across the country, said July sales fell 6.8% on a seasonally adjusted basis from the previous month, a decline "almost entirely the result of fewer sales in British Columbia and Ontario," where the HST went into effect on July 1.   

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