Canadian Home Sales Push Higher In February

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