Canadian Home Sales Climb in February

According to statistics^[1]released today by The Canadian Real Estate Association (CREA),national home sales were up on a month-over-month basis in February 2017.

Highlights:

• National home sales rose 5.2% from January to February.
• Actual (not seasonally adjusted) activity in February was down 2.6% from a year earlier.
• The number of newly listed homes was up 4.8% from January to February.
• The MLS® Home Price Index (HPI) in February was up 16% year-over-year (y-o-y).
• The national average sale price edged up 3.5% y-o-y in February.

Home sales over Canadian MLS® Systems rose by 5.2% month-over-month in February 2017 to reach the highest level since April 2016. (C

While February sales were up from the previous month in about 70% of all local markets, the national increase was overwhelmingly driven by an increase in activity across the Greater Toronto Area (GTA) and environs.

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