March 16, 2021
Statistics released by the Canadian Real Estate Association (CREA) show national home sales set another all-time record in February 2021.
Summary:
- National home sales rose 6.6% on a month-over-month (m-o-m) basis in February.
- Actual (not seasonally adjusted) activity was up 39.2% year-over-year (y-o-y).
- The number of newly listed properties rebounded by 15.7% from January to February.
- The MLS® Home Price Index (HPI) jumped 3.3% m-o-m and was up 17.3% y-o-y.
- The actual (not seasonally adjusted) national average sale price posted a 25% y-o-y gain in February.
Home sales recorded over Canadian MLS® Systems climbed 6.6% between January and February 2021 to set another new all-time record.
CREA Updates Resale Housing Market Forecast
Ottawa, ON March 15, 2021 – Current trends and the outlook for housing market fundamentals suggest activity will remain strong through 2021, resulting in a record number of sales. That said, activity is forecast to begin returning to more typical levels over time. 2022 is expected to see fewer MLS® transactions compared to 2021, while remaining above all other years on record.
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