CREA Canadian home sales edge higher in February

According to statistics released on March 15th by The Canadian Real Estate Association (CREA), national resale housing activity improved in February 2012 after having declined in January.

Highlights:
• Home sales rose 1.4 per cent from January to February.
• Actual (not seasonally adjusted) activity was up 8.6 per cent from February 2011 levels.
• The number of newly listed homes climbed 1.9 per cent from January to February.
• The national sales-to-new listings ratio was little changed, remaining firmly in balanced territory.
• The national average home price advanced 2.0 per cent on a year-over-year basis in February.

Source: Ottawa Real Estate Board