The Canadian Real Estate Association (CREA) recently released national sales statistics for March of 2021.
According to the report, "Home sales recorded over Canadian MLS® Systems climbed 6.6% between January and February 2021 to set another new all-time record."
"Seasonally adjusted activity was running at an annualized pace of 783,636 units in February. CREA’s revised forecast for 2021 is in the neighbourhood of 700,000 home sales. Strong demand notwithstanding, sales may be hard-pressed to maintain current activity levels in the traditionally busier spring months absent a surge of much-needed new supply; although, that could materialize as current COVID-19 restrictions are increasingly eased and the weather starts to improve."
Highlights of CREA's report
National home sales rose 5.2% on a month-over-month (m-o-m) basis in March.
The actual (not seasonally adjusted) activity was up 76.2% year-over-year (y-o-y).
The number of newly listed properties jumped another 7.5% from February to March.
The MLS® Home Price Index (HPI) rose 3.1% m-o-m and was up 20.1% y-o-y.
The actual (not seasonally adjusted) national average sale price posted a 31.6% y-o-y gain in March.
Read the entire report on Canadian MLS® sales for March of 2021.
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