Canadian Home Sales Fall Further in February

Posted March 15, 2018

Ottawa, ON, March 15, 2018 – Statistics^[1] released today by The Canadian Real Estate Association (CREA) show national home sales declined further in February 2018.

Highlights:

National home sales declined by 6.5% from January to February.
Actual (not seasonally adjusted) activity was down 16.9% year-over-year (y-o-y) in February.
The number of newly listed homes recovered by 8.1% from January to February.
The MLS® Home Price Index (HPI) in February was up 6.9% y-o-y.
The national average sale price declined by 5% y-o-y in February.

Home sales via Canadian MLS® Systems were down 6.5% in February. This marks the second consecutive monthly decline following the record set in December 2017 and the lowest reading in nearly five years. (Chart A)

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