OTTAWA – March 15, 2012 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity improved in February 2012 after having declined in January.
→ Home sales rose 1.4% from January to February.
→ Actual (not seasonally adjusted) activity was up 8.6% from February 2011 levels.
→ The number of newly listed homes climbed 1.9% from January to February.
→ The national sales-to-new listings ratio was little changed, remaining firmly in balanced territory.
→ The national average home price advanced 2.0% on a year-over-year basis in February.
Sales activity recorded through the MLS® Systems of Canadian real estate Boards and Associations edged up 1.4 per cent from January to February 2012, recouping one-third of the monthly decline in activity between December 2011 and January 2012.
Activity was up on a month-over-month basis in half of all local markets in February, led by Calgary, Toronto, Barrie, Montreal, Quebec City, Saint John, and Halifax-Dartmouth.
Actual (not seasonally adjusted) activity was up 8.6 per cent on a year-over-year basis in February. A total of 61,772 homes traded hands in the first two months of 2012, up 6.7 per cent from the same period in 2011.
The number of newly listed homes also rebounded 1.9 per cent on a month-over-month basis in February, reaching the highest level since May 2010. A rebound in new listings in Toronto and Montreal, Canada’s two most active markets, offset a retreat in new listings in Vancouver, Canada’s third largest market.
With both sales and new listings having risen, the national sales-to-new listings ratio, a measure of market balance, was little changed in February (53.3 per cent) compared to January (53.6 per cent) and remains firmly in balanced market territory.