Home resales continue to fall - MoneySense

Home resales continue to fall

Canada’s real estate sector experiences another down month.

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The sale of existing homes in Canada fell 1.5% in February, the second straight month of decline, according to Canadian Real Estate Association.

While provinces like Ontario experienced large gains, British Columbia’s unit sales were down 13.3% from January. Some believe their hosting of the Winter Olympics played a part in this trend.

Still, experts believe that the housing market is transitioning into a period of more balanced conditions, as evidenced by the fact that resale’s remained high on a year-over-year basis.

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