The Canadian Actual Property Affiliation says February house gross sales jumped 19.7 per cent in contrast with a 12 months in the past.
The affiliation says the rise partly mirrored weak spot final 12 months, because the consequence for February 2023 was one of many lowest for the month up to now 20 years.
On a month-over-month foundation, CREA says seasonally adjusted house gross sales in February dipped 3.1 per cent in contrast with January.
CREA senior economist Shaun Cathcart says February might finish being the “final comparatively uneventful month of the 12 months” for house gross sales, because of pent up demand that has been placed on maintain amid the excessive rate of interest atmosphere.
The variety of newly listed properties was up 1.6 per cent month-over-month.
The precise nationwide common house worth was $685,809 final month, up 3.5 per cent from February 2023.
