Strength in Lower B.C. Mainland and Southern Ontario's Housing Market

Although sales rose in only 12 of our 28 markets between January and February, volumes soared in Southern B.C., and Southern Ontario markets saw decent jumps, according to The Conference Board of Canada’s Metro Resale Snapshot. Alberta, Saskatchewan, and the Maritimes continue to struggle.

Listings rose in 15 markets between January and February. Double-digit jumps occurred in the Fraser Valley, Victoria, and Hamilton.

Despite the weak sales performance, the sales-to-listings ratio rose between January and February in 16 areas. Market stances are, unsurprisingly, diverse. Sellers’ conditions prevail in eight markets, while another eight are buyers’ markets. Only 12 are “balanced.”

Strong year-over-year price growth persists in Vancouver and the Fraser Valley and is spilling out of the GTA. Quebec markets are generally decent but unspectacular. Pricing is much weaker on the Prairies and in the Maritimes.

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Short-Term Year-Over-Year MLS Price Change Expectations