The Canadian housing market warmed up in July, and not just from the weather.

Total home sales across Canada increased 3.8 per cent compared with the previous month, and marked the fourth straight monthly increase, according to the latest data from the Canadian Real Estate Association (CREA).

More listings are also expected to be added to the market by the fall and prices are rising at a slower pace than sales growth. Although this may seem like good news for buyers right now, industry experts believe it may not last long as demand is expected to catch up with available supply by next year.

At least one economist believes the situation is heading more towards a seller’s market, and prices could soon spike — potentially locking many would-be homebuyers out of options.

“It looks li

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