Home prices stabilizing in most prairie markets except Regina: CREA

Home prices stabilizing in most prairie markets except Regina: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for February of 2020.

According to the report, "Home sales recorded over Canadian MLS® Systems rose by 5.9% in February 2020, marking one of the larger month-over-month gains of the past decade. Transactions surpassed year-ago levels in about 80% of all local markets, including all large urban markets."

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.7% in February 2020 compared to January, marking its ninth consecutive monthly gain."

The MLS® HPI was up in February 2020 compared to the previous month in 15 of the 19 markets tracked by the index. As of this release, Winnipeg is in the MLS® HPI."

Looking at the big Prairie markets, home price trends have ticked downwards in Calgary and Edmonton to start 2020 but have generally been stable since the beginning of last year. Prices in Saskatoon have also been stable over the last year, while those in Regina have continued to trend lower. Prices in Winnipeg have been on a slow upward trend since the beginning of 2019."

 Highlights of CREA's report

  • National home sales climbed 5.9% on a month-over-month (m-o-m) basis in February.
  • The actual (not seasonally adjusted) activity was up 26.9% year-over-year (y-o-y).
  • The number of newly listed properties jumped 7.3% m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.7% m-o-m and 5.9% y-o-y.
  • The actual (not seasonally adjusted) national average sale price climbed 15.2% y-o-y.

Read the entire report on Canadian MLS® sales for February 2020.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Norm Fisher

Royal LePage Vidorra


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