NEWS FROM CREB … February was another very strong month in our residential market, and the best February on record since 2014.
“Despite continued Covid-19 restorations, housing activity continues to improve. Much of the strong sales activity is expected to be driven by exceptionally low mortgage rates …. Confidence is also likely improving as vaccine rollouts are underway. Additionally, some of the worst fears concerning the energy sector are easing with recent gains in energy prices”
February’s benchmark price rose over the previous month and currently sits four per cent above last year’s levels. Note however that the apartment condo segment still has high level of inventory compared to sales, which is impacting price recovery in this product type.
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