X
X
Where did you hear about us?
The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

More sellers enter Canada’s housing market in February

One month doesn’t make a trend but if February is any indication, more sellers may be (finally) making their way into Canada’s housing market. Early results from local real estate agents reportedly showed notable month-to-month increases in new listings across all major markets.

This was especially the case in Calgary and Edmonton where a wave of properties put up for sale set the stage for the strongest number of transactions ever recorded in a February. Elsewhere, the impact on activity was generally positive albeit more muted.

However, buyers still face a dearth of supply, maintaining intense upward pressure on prices. Local real estate agents reported further price acceleration, led by Fraser Valley, Toronto and Vancouver where property values made big leaps from already sky-high levels in January.

Toronto’s composite MLS Home Price Index jumped a mind-blowing 6.4% in just one month, from January to February. That’s an increase of more than C$80,000 in a single month. What’s more, it came on the heels of a series of material gains over the past several months (including a C$52,000 jump in January) that drove the average price of a home in Toronto up C$354,000 (£210,000) in just one year, to an all-time high of C$1.34m (£793,000).

If you want to read more news subscribe

subscribe