Home resales slip in February

OTTAWA — Sales of homes through Canadian MLS Systems fell 6.5% in February, according to the latest figures from the Canadian Real Estate Association, marking the second consecutive monthly decline following the record set in December 2017 and the lowest reading in nearly five years. Sales were down from January in almost three-quarters of all local housing markets, with large monthly declines in and around the Greater Vancouver and Toronto areas. Actual (not seasonally adjusted) activity was down 16.9% year-over-year and hit a five-year low for the month of February.