The Canadian Real Estate Association says February home sales jumped 19.7 per cent compared with a year ago in what could mark the "last relatively uneventful month of the year."
January marked the second straight month of higher home sales in Canada, which are now up 22% from a year ago.
Canadian existing home sales reached their lowest level in 15 years in 2023, although the year did end on a high note with a December "bounce" in activity.
Both home prices and sales continued to trend downward in November as high interest rates continue to keep many prospective buyers on the sidelines.
The slowdown in housing activity across the country continued in November, but so far there aren't signs of widespread distressed selling, figures show.
Weakness in Canada's housing markets is now spreading beyond the major markets of Vancouver and Toronto, the latest data reveal.
The trend of falling home sales and a growing number of listings continued in September, which observers say should keep downward pressure on prices.
Real estate markets across the country continued to lose steam in August following the latest Bank of Canada rate hikes in June and July. Everywhere outside of Alberta and some pockets of Atlantic Canada, that is.
Home sales and prices continued to ease in July following the two latest rate hikes from the Bank of Canada.
The Bank of Canada's June rate hike served as a splash of cool water to recent housing market strength as home sales moderated in June and priced edged down compared to May.