The Canadian Real Estate Association (CREA), released national sales statistics for the month of February 2018 today.
According to the report, "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...The drop off in sales activity following the record-breaking peak late last year confirms that many homebuyers moved purchase decisions forward late last year before tighter mortgage rules took effect in January,” said Gregory Klump, CREA’s Chief Economist.”
Highlights of CREA's report
- 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.
Read the entire report on Canadian MLS® sales for February of 2018.
CREA's most recent Resale Housing Market Forcast, also released today can be found here.
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