National housing resale activity holds steady

March resale rates similar to February.

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According to the Canadian Real Estate Association (CREA), national resale rates held steady in March 2011 compared to the previous month.

Seasonally adjusted national home sales activity came in one-tenth of a percentage point above levels for February, with stable demand in most large urban centres.

Most of the quarterly increase was due to demand in Vancouver and Toronto.

CREA Chief Economist Gregory Klump said a record number of multi-million dollar property sales in Richmond and Vancouver West are responsible for pushing up average prices for Greater Vancouver, British Columbia and nationally.

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