According to statistics released by the Canadian Real Estate Association (CREA), home sales in the country saw an MoM increase in February.
National home sales increased by 2.3% from January, and the actual monthly activity was 40% below Feb. 2022.
The Greater Toronto Area and the Greater Vancouver Area led the rise in home sales.
- The February sales activity was similar to the activity seen for the month of 2018 and 2019.
- However, the number of newly listed homes saw a 7.9% MoM drop, and several markets saw double-digit declines.
- The Chair of CREA, Jill Oudil, said last month's data contained the potential for a more robust market to come.
