Canadian home sales fell sharply in February

Sales in Canada fell by 9.1% month in month in February and are 4.4% below where they were in the same month in 2018, the latest agent figures show. The data from the Canadian Real Estate Association (CREA) also shows that average house prices fell nationally by 5.2% to $468,350, while the number of newly listed homes were down by 3.2% on a monthly basis. The index report points out that the national average price is heavily skewed by sales in Greater Vancouver and the Greater Toronto Area, two of Canada’s most active and expensive markets. Excluding these two markets the national average price was just under $371,000.