Canadian home sales drop 40% in February compared with year ago: CREA
The Canadian Real Estate Association says homes sales shrunk by 40 per cent in February compared with a year ago.
The association says February sales were comparable to what was recorded during the same month in 2018 and 2019, before the COVID-19 pandemic.
The year-over-year drop in home sales in February came as the national average sale price posted an 18.9 per cent decline compared with the all-time record in February 2022.
The real estate association says the actual average home price in Canada was $662,437 in February.
Compared with January, CREA says national home sales rose 2.3 per cent in February, powered by gains in Toronto and Vancouver home sales.
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