Home Sales Increase Across Canada In February

According to the latest from the Canadian Real Estate Association, home sales across Canada increased by one per cent from January 2015 to February 2015, while they increased by 2.7 per cent on a year-over-year basis.

“A number of buyers across the Prairies stayed on the sidelines in February,” said the president of the Canadian Real Estate Association, Beth Crosbie. “That’s likely to remain an important part of the national housing story until the outlook for oil prices starts improving. Meanwhile, home sales in British Columbia and much of Ontario are improving, which underscores the fact that all real estate is local. Nobody knows this better than your local Realtor, who remains your best source for information about the housing market where you currently live or might like to.”

New listings decreased by 2.5 per cent from January to February, and the national average sale price for a home in Canada increased by 6.3 per cent.

“Sales came in below the ten-year average for the month of February in two-thirds of all local markets,” said the chief economist of the Canadian Real Estate Association, Gregory Klump. “That said, the opposite was true in a few large urban markets in British Columbia despite a shortage of listings there, which is fuelling prices higher.”

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