According to new stats just released by the Canadian Real Estate Association (CREA), national home sales saw a small bump from February to March, rising by 2.4 per cent.
More than half of all local markets studied edged up from February to March, including Greater Vancouver, Fraser Valley, Calgary, Greater Toronto, Montreal, Saskatoon, Hamilton-Burlington, and Kitchener-Waterloo.
“National sales have been holding fairly stable since last summer. We’ll be watching closely as the spring market picks up to see whether the March sales increase marks the beginning of an improving trend,” said CREA President Laura Leyser. She also noted that local market conditions often can and do differ from national numbers.
See the run-down of some of the main stats:
- In March 2013, actual (not seasonally adjusted) activity was 15.3 per cent lower than in 2012, but February posted a higher year-over-year decline in sales at 15.9 per cent.
- While sales are down compared to 2012 in more than 90 per cent of all local markets, the gap diminished in a number of larger cities including Greater Vancouver, Calgary, Regina, Saskatoon, Montreal, and Quebec City (Edmonton was the only large urban market that saw monthly sales surpass the levels from the previous year)
- The number of listings moved up 3.2 per cent from February to March.
- The upward trend was seen in roughly two thirds of all local markets, led by Greater Toronto, Montreal, London and St. Thomas, and Calgary.
- In March 2013, Canadian homes rose by 2.5 per cent from the year before up to $378,532.
- The Aggregate Composite Home Price Index rose 2.2 per cent on a year-over-year basis in March.
- This is the eleventh time in as many months that the year-over-year gain shrank and the slowest rate of increase in more than two years.
- Price growth rose the most for one-storey single family homes (3.4 per cent), followed by two-storey single family homes (2.5 per cent), townhouse/row units (2.1 per cent), and apartment units (0.4 per cent).
- The HPI again increased the most in Calgary (7.7 per cent), followed by Regina (4.2 per cent), Greater Toronto Area (2.9 per cent), Greater Montreal (2.0 per cent), and the Fraser Valley (0.1 per cent).
- In Greater Vancouver, the index posted a 3.9 per cent year-over-year decline in March.
- The national sales-to-new listings ratio held steady at 49.9 per cent in March compared to 50.3 per cent in February (the ratio hasn’t seen significant changes in the last eight months).
- Based on a sales-to-new listings ratio between 40 to 60 per cent, just 60 per cent of the markets studied were in balanced market territory in March.
For more info, check out the tables below…