Canadian Prime Minister Justin Trudeau is expected to make a housing announcement and speak with the press in Guelph, Ont., on Friday. He will be joined by the Minister of Housing and Diversity and Inclusion, Ahmed Hussen.

Canada’s housing market showed signs of life in February, following a year of cooling off, but experts are watching the typically busy spring season to determine whether the correction has hit its bottom.

The Canadian Real Estate Association (CREA) said Wednesday that while monthly home sales were down 40 per cent from the same month a year earlier in February, sales actually rose 2.3 per cent from January. That was largely due to an uptick in activity in the Greater Toronto and Vancouver areas, CREA said.

The average national sale price was $662,437 last month, down 18.9 per cent from the all-time high in February 2022 — the month that most consider the peak of the frenzied pandemic housing market in Canada.

For more info, please go to https://globalnews.ca/news/9553097/canada-housing-market-february-2023/

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