Canadian Home Sales Edge Up In February



OTTAWA — According to statistics released in mid March by The Canadian Real Estate Association (CREA), national home sales activity edged up slightly on month-over-month basis in February 2015.
Highlights:
•    National home sales edged up 1.0% from January to February.
•    Actual (not seasonally adjusted) activity stood 2.7% above February 2014 levels.
•    The number of newly listed homes fell 2.5% from January to February.
•    The Canadian housing market remains balanced.
•    The MLS Home Price Index (HPI) rose 5.01% year-over-year in February.
•    The national average sale price rose 6.3% on a year-over-year basis in February.
The number of home sales processed through the MLS Systems of Canadian real estate Boards and Associations rose by one per cent in February 2015 compared to January.
The monthly increase was led by Greater Vancouver, the Okanagan region, and Greater Toronto. Gains there offset sales declines elsewhere, with more than half of all local markets having posted weaker sales in February compared to January.