Resale housing sales rise in February

OTTAWA — Resale housing sales and prices both strengthened in most major markets across the country in February, with sales rising five per cent or more in several regions, and prices rising four per cent or more in the majority of areas.

February sales were ahead of January's in 20 of the 28 markets measured for the Conference Board of Canada's monthly metro resale index, the board reported on Tuesday, and were also above their year-earlier levels in 20 markets.

Prices were above their year-earlier levels in 25 markets, and had risen four per cent or higher in 20 markets, the Board said.

Sales-to-listings ratios rose in 14 of the 28 markets in February. Across the country, Victoria is the only market considered to be a buyers' market. Halifax, along with the Ontario cities of Thunder Bay, St. Catharines and Windsor, are considered sellers' markets, with the remaining 23 cities in a balanced position.

Looking ahead, the board expects all 28 markets will either remain stable or grow in the short term, with the best prospects for growth in Saskatoon, along with the Quebec cities of Gatineau, Montreal, Quebec, Sherbrooke, Trois-Rivieres and Saguenay; the Ontario cities of Oshawa, London and Windsor are expected to remain stable in the short term.

Postmedia News

February 2012 Resale Data sales % change y/y m/m prices % change y/y m/m

Victoria -2.8 -6.6 -6.1 1.4

Vancouver -24.5 0.6 -0.1 5.0

Fraser Valley -9.6 1.1 4.6 2.4

Calgary 2.1 8.8 0.4 8.4

Edmonton 5.1 -2.3 4.7 2.7

Regina 23.8 -8.2 5.2 -3.6

Saskatoon 37.0 2.3 7.4 0.2

Winnipeg -3.6 -1.2 8.6 5.3

Thunder Bay -3.7 -2.5 8.6 1.7

Sudbury 6.8 8.3 14.0 4.7

Toronto 4.6 1.5 10.4 2.2

Oshawa 24.5 2.9 7.1 1.6

Hamilton -1.0 -2.0 6.2 2.7

St. Catharines 8.7 10.1 9.2 14.0

Kitchener -7.9 2.2 9.8 -2.2

London 9.6 4.6 2.8 0.7

Windsor 23.0 7.8 12.8 0.0

Kingston 25.6 3.4 7.4 -3.5

Ottawa 5.7 1.2 4.4 0.6

Gatineau 10.2 1.2 2.3 -1.3

Montreal -0.8 2.7 6.2 1.5

Quebec City 15.3 9.8 12.9 16.4

Sherbrooke 26.0 4.6 7.8 3.7

Trois-Rivieres 28.1 9.3 -3.3 16.1

Saguenay 4.9 -9.3 5.7 7.5

Saint John 45.7 43.4 1.4 9.4

Halifax 45.9 17.4 1.2 1.9

Newfoundland 0.8 -1.1 8.3 -1.9

Source: Conference Board of Canada