The price of the average Canadian home rose up by 3.5 per cent to and average price of $519,521 in February, even as the national figures continue to be skewed by hot activity in the country's biggest market: Toronto. "That said, Greater Vancouver's share of national sales activity has diminished considerably over the past year, giving it less upward influence on the national average price," CREA said.
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in February 2017.
- National home sales rose 5.2% from January to February.
- Actual (not seasonally adjusted) activity in February was down 2.6% from a year earlier.
- The number of newly listed homes was up 4.8% from January to February.
- The MLS® Home Price Index (HPI) in February was up 16% year-over-year (y-o-y).
- The national average sale price edged up 3.5% y-o-y in February.