Resale markets gain ground.
Document Highlights
- Resale transactions improved in February. Sales were up from January in 20 of our 28 markets. Moreover, sales rose 5 per cent or more in eight areas. Sales were above their year-earlier levels in 20 areas, with 16 posting at least a 5 per cent hike.
- The supply of new listings also rose, increasing in 20 jurisdictions. Listings were above year-earlier levels in 18 markets.
- The sales-to-listings ratio rose in 14 of the 28 the markets in February. Sellers’ conditions prevailed in four markets (unchanged from January), but only one market was in a “buyers’” state, down from three in January. All other markets were considered “balanced.”
- Decent markets strengthened price growth in 18 areas in February. Prices were up from their year-earlier levels in 25 of 28 markets, and growth was 4 per cent or higher in 20 areas.
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