Canadian home sales edge up in February
Ottawa, ON, March 13, 2015 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity edged up slightly on month-over-month basis in February 2015.
• National home sales edged up 1.0% from January to February.
• Actual (not seasonally adjusted) activity stood 2.7% above February 2014 levels.
• The number of newly listed homes fell 2.5% from January to February.
• The Canadian housing market remains balanced.
• The MLS® Home Price Index (HPI) rose 5.01% year-over-year in February.
• The national average sale price rose 6.3% on a year-over-year basis in February.
The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose by one per cent in February 2015 compared to January.
The monthly increase was led by Greater Vancouver, the Okanagan region, and Greater Toronto. Gains there offset sales declines elsewhere, with more than half of all local markets having posted weaker sales in February compared to January.
CREA Updates and Extends Resale Housing Forecast
Ottawa, ON, March 13, 2015 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2015 and extended it to 2016.
The further decline in oil prices since CREA’s last forecast has shaken consumer confidence in the Prairies, pushing potential homebuyers to the sidelines and prompting more homeowners to put their home on the market. This has led to a rapid shift in market balance in Alberta, and to a lesser extent, Saskatchewan. Annual sales in these provinces are expected to come in well below elevated levels posted last year, with small declines in average residential prices in 2015.
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