Real-estate market cool in February

There's more evidence that Canada's real estate market is continuing to cool.

The Canadian Real Estate Association says resales of houses and condos through its members fell 2.1 per cent month-to-month in February.

That reversed a small gain in January.

On a year-over-year basis, last month's activity was down 15.8 per cent, a decline that was exaggerated slightly by an extra day in February 2012

The association says the national average price for homes sold in February through its members was $368,895.

That is a one per cent decline from the same month last year, although CREA says there would have been a small increase without Vancouver's numbers.

Check out local numbers here.

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About the Author

For the past twenty years Mark has been involved in real estate development and consulting and is currently a REALTOR with Sage Executive Group in Kelowna.

His column, brings a unique perspective on what may be important to us in the future as we come to grips with fast paced change in a world that few people barely recognize.

His influences come from the various travels he undertakes as an Adventurer, Philanthropist and Keynote Speaker. More information can be found on Mark at his website www.markjenningsbates.com


The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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