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The average asking rent in Canada reached another record high of $2,078 in July. Rents increased 8.9% annually, the fastest pace of growth of the past three months. The 1.8% increase in average asking rents over June represented the fastest month-over-month growth of the past eight months.
August would be the high demand month because of university rentals. December and May low with dropouts and graduations.
Historically what's August increase vs July? Specifying past 8 months send l seems to be aimed at ignoring the usual university demand.
Isn't this report showing year over year increases?
Y/Y is year over year. M/M is month over month