CREA reports home sales up in February, average price climbs higher

OTTAWA — The Canadian Real Estate Association says home sales in February were up sharply compared with February 2019 when sales hit a decade-low for the month.

The association says sales for the month were up 26.9 per cent compared with the same month last year.

On a month-over-month basis, sales in February were up 5.9 per cent, boosted by a 15 per cent jump in the Greater Toronto Area.

The number of newly listed homes rose 7.3 per cent in February compared with January.

The increase in the number of sales came as the national average price for homes sold last month rose 15.2 per cent compared with a year ago to $540,000.

Excluding the Greater Vancouver and Greater Toronto Area, the national average price was about $410,000, up 10.5 per cent.

This report by The Canadian Press was first published March 16, 2020.

The Canadian Press