Canadian resale home sales edged lower in February with Vancouver cooling and Toronto becoming heated with fewer listings. The Canadian Real Estate Association (CREA) reported Canadian home sales fell 1.5 per cent in February to a seasonally adjusted 42,799.
The Olympic Winter Games may have impacted Real Estate sales activity in Vancouver.
CREA noted that the year-over-year gain was smaller than gains recorded in each of the past three months (Where is the Real Estate Bubble?)
The average resale home price in Canada was $335,655 representing an 18.2 per cent increase compared to the lows of 2009.
New MLS listings increased 2.4 per cent to seasonally adjusted rate of 73,849 that should lead towards a more balanced Real Estate Market
