February residence gross sales dipped to three.1 per cent whereas residence costs stayed flat from the earlier month, in accordance with the Canadian Actual Property Affiliation.
In comparison with residence gross sales in January, which had been up 3.7 per cent
February residence gross sales dipped 3.1 per cent whereas residence costs stayed flat from the earlier month, in accordance with the Canadian Actual Property Affiliation (CREA).
There have typically been greater ranges of exercise within the final three months then there have been throughout the identical interval final yr, in accordance with CREA’s report. House gross sales in January, for instance, jumped 22 per cent yr over yr.
The variety of newly listed properties rose 1.6 per cent month-to-month in February, with the nationwide sales-to-listings ratio easing to 55.6 per cent.
“It is trying like February might find yourself being the final comparatively uneventful month of the yr so far as the 2024 housing story goes,” stated Shaun Cathcart, CREA’s senior economist.
“With a lot demand having piled up on the sidelines, the story will probably be much less in regards to the actual timing of rate of interest cuts and extra about what number of houses come up on the market this yr.”
Extra to return.
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