Home resales hot on spring listings

Sales of existing homes climbed 4.6 percent between January and February 2022, the Canadian Real Estate Association reports. The monthly increase in activity was likely the result of a rebound in new listings in February following a major decline in January. Sales were up in about 60 percent of local markets, led by big jumps in Calgary and Edmonton as well as a gain ahead of the national increase in Greater Toronto.

The actual (not seasonally adjusted) number of transactions in February came in 8.2 percent below the monthly record set in 2021. Still, as was the case in January and throughout the second half of 2021, it remained the second-highest level on record for that month.