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Sales down, prices up in RE/MAX February housing report

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The average selling price last month was $832,703 (it was $838,540 the previous month) and this represents a 3% increase compared to previous same month last year – see graph of prices here; Greater Toronto Area REALTORS® reported 8,860 (it was 9,989 last month) residential sales through TREB’s MLS® System last month.

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largest drop in sales from last year. February home sales slowed in February, while prices increased by double digits over last year. The RE/MAX National Housing Report, a survey of MLS data in 52 metropolitan areas, found the February results to be nearly identical to January. Just like January, the median home price rose 11.6%

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February home sales dropped 3% from one year ago, but increased from January, according to the RE/MAX national housing report. It’s the first time in four months that the yearly difference did not.

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Sales of newly constructed homes, accounting of roughly 10% of all U.S. home sales, fell 7.8% in January from the prior month and 1% from the year-ago period to a seasonally adjusted annual rate.

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