New listings on Canada’s re-sale market penetrated the 80,000 level last month and rose in every province but Alberta, the Canadian Real Estate Association reported yesterday.

Actual new MLS listings reached 85,346 units in July, up more than 14% from the 74,575 units hit in July last year.

July’s new listings surpassed the previous record set in May this year.

In Alberta, meanwhile, new listings retreated 2% in July compared to one year ago, reaching 11,748 units compared to 11,983 one year ago.

CREA took the dip in Alberta new listings as an indication for what’s in store for other western provinces.

“While still elevated, new listings in Alberta are easing and market balance is stabilizing now that prices there have softened,” CREA chief economist Gregory Klump said in a statement,

“Similar trends are expects to play out in other western provinces where prices posted sharp gains last year.”

CREA data shows that in Alberta, prices in the re-sale market decreased 5.2% to $352,421 compared to one year ago, while unit sales have declined to 5,754 from 5,938 during the same period.

With the exception of Alberta and Newfoundland and Labrador, which posted a new listings increase of just under 5%, all provinces recorded double-digit year-over-year increases in new listings.

Saskatchewan led with a 42.5% increase, followed by Manitoba with 31%.

An increase in new listings is generally regarded as favourable for buyers, who now have more options for a home purchase