Canadian home sales up in February


The Canadian Real Estate Association (CREA) released statistics last week that revealed an increase in housing activity in Canada this February. After a decline in January, national resale housing activity showed an improvement in February.

According to statistics, home sales increased 1.4% from January to February and the number of newly listed homes rose 1.9% in February from the previous month. An increase of 2% was seen in the national average home price on a year-over-year basis in February.

Half of all local markets in February saw increases in activity on a month-over-month basis led by Calgary, Toronto, Barrie, Montreal, Quebec City, Saint John and Halifax-Dartmouth. The number of newly listed homes in Canada edged up 1.9% on a month-over-month basis and the biggest contributors were seen in Toronto and Montreal. The increases in these cities offset the retreat in new listings in Vancouver.

“The national rise in both sales activity and the number of newly listed homes beyond the normal seasonal increase provides clear evidence that Canadians are confident in housing market prospects,” said Gary Morse, CREA’s President. “Confidence varies by region, as do prospects for housing demand. For that reason, buyers and sellers should talk to their local REALTOR® to understand current and prospective trends in their local housing market.”

SOURCE: The Canadian Real Estate Association (CREA)

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Mary O'Brien

Mary O'Brien

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