The Canadian Real Estate Association says February home sales jumped 19.7 per cent compared with a year ago in what could mark the"last relatively uneventful month of the year."
On a month-over-month basis, seasonally adjusted home sales in February dipped 3.1 per cent compared with January. CREA said it is seeing a general trend of"somewhat higher levels of activity over the last three months compared to a quiet fall market in 2023." The number of newly listed properties was up 1.6 per cent month-over-month. Meanwhile, there were 3.8 months of inventory on a national basis at the end of February 2024, up from 3.7 months at the end of January, but short of the long-term average of about five months of inventory.Vy Ngo, a sales representative with Big City Realty Inc. Brokerage, said buyers are showing a lot more optimism than they were at the end of last year.
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