Home resales flat in February

OTTAWA —  National home sales activity was little changed in February 2014 on a month-over-month basis, according to the latest data from the Canadian Real Estate Association (CREA), with sales process through the listing system edging up just three tenths of 1%. The February result follows five straight monthly declines and leaves activity 9.3% below the peak reached in August 2013. The number of local housing markets where February sales were up ran roughly even with the number of markets where sales declined, with little change in activity among most of Canada’s large urban markets.