NEWS

Canadian home sales push higher in February

Ottawa, ON, March 15, 2016 - According to statistics released today by The Canadian Real Estate Association (CREA), national home sales recorded a second consecutive month-over-month increase in February 2016.

Highlights:

• National home sales rose by 0.8 per cent from January to February.
• Actual (not seasonally adjusted) activity was up 18.7 per cent compared to February 2015.
• The number of newly listed homes edged up by 0.5 per cent from January to February.
• The Canadian housing market has tightened but remains balanced overall.
• The MLS® Home Price Index (HPI) rose 8.5 per cent year-over-year in February.
• The national average sale price rose 16.4 per cent on a year-over-year basis in February; excluding British Columbia and Ontario, it declined by 1.4 per cent.

The number of homes trading hands via Canadian MLS® Systems rose by 0.8 percent in February 2016 compared to January. The monthly increase lifted national sales activity to the highest level since June 2007.

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