CREA: Fewer Home Sales in February 2013

Fewer Homes SellingOn Friday, the Canadian Real Estate Association (CREA) modified its forecast for home sales in 2013 and 2014.

The change follows a 16% drop in February 2013 as compared to 2012.  About 4% of this difference can be attributed to February’s being one day shorter this year than last year, but the trend is still down.

Overall in 2013, CREA predicts a 2.9% decline from 454,573 home sales in 2012, to 441,500 in 2013.

Home prices, meanwhile, remain relatively flat with only about a one per cent change in average sale price, now at $368,895.

Selling a home in 2013?

What this means for Canadians planning to sell their homes in 2013 is that homes may take longer to sell.  However, it also indicates that a drastic cut in the listing price may not be necessary.

If you’re thinking of selling your home this year, be sure to read our tips on selling in a buyer’s market.

Then pay us a visit at ComFree.com.

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Sources: www.crea.ca, CBC.ca

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Rosy Saadeh

About Rosy Saadeh

Rosy Saadeh is a Social Media Manager and Marketer and spends her time scouring the net trying to make new friends, help clients and post interesting stories about real estate and the like in Canada. Connect with her on Twitter, Facebook, Google+, and Pinterest.

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