Canadian Home Sales Drop 40 Percent in February Compared With Year Ago

Canadian Home Sales Drop 40 Percent in February Compared With Year Ago
A new home is shown for sale in a housing development in Ottawa on July 14, 2020. The Canadian Press/Sean Kilpatrick
The Canadian Press
Updated:
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February’s home sales plummeted 40 per cent from a year ago to levels not seen since before the pandemic as new listings and prices also dropped in what one economist called “hints of a bottoming process.”

The plunge in sales came as actual average home prices declined 18.9 per cent compared with the all-time record posted in February 2022, the Canadian Real Estate Association said Wednesday.