Canadian Home Sales Up 2.5% In March

11340_canada Canadian Home Sales Up 2.5% In March Canadian home sales rose 2.5% from February to March, according to new data from the Canadian Real Estate Association (CREA). Actual activity (not seasonally adjusted) stood 1.6% above levels in March 2011, the smallest year-over-year increase since last April.

According to CREA, the number of newly listed homes eased 0.3% from February to March. The national average home price edged down 0.5% on a year-over-year basis in March. Activity in March was up from the previous month in two-thirds of all local markets, with Toronto, Calgary, and Edmonton contributing most to the national increase.

A total of 108,373 homes traded hands in the first three months of the year. This is 5% above the five-year average for first quarter sales, 3.8% above the 10-year average, and 4.4% above activity in the first quarter of 2011.

‘The spring housing market is off to a good start,’ says Wayne Moen, CREA's president. ‘The number of sales and newly listed properties are up from levels last year, and the vast majority of housing markets remain balanced.’


Please enter your comment!
Please enter your name here