The Canadian Real Estate Association (CREA), released national sales statistics for February of 2019 this week.
According to the report, "Home sales via Canadian MLS® Systems plunged 9.1% month-over-month in February 2019 to the lowest level since November 2012. The month-over-month decline was the largest recorded since the B-20 stress test came into effect in January of last year." The number of homes trading hands was down from the previous month in three- quarters of all local markets, including all major cities."
Highlights of CREA's report
- National home sales plummeted 9.1% month-over-month (m-o-m) in February.
- Actual (not seasonally adjusted) activity was down 4.4% year-over-year (y-o-y).
- The number of newly listed homes fell 3.2% m-o-m.
- The MLS® Home Price Index (HPI) was virtually unchanged (-0.1% y-o-y).
- The national average sale price fell by 5.2% y-o-y.
Read the entire report on Canadian MLS® sales for February 2019.
Read also: CREA's updated housing forecast for 2019.
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