MLS resale housing activity declined in February 2008 from January levels, according to statistics released by The Canadian Real Estate Association (CREA).
Seasonally adjusted MLS sales activity in Canada's major markets edged down 6.4 per cent month-over-month to 26,588 units in February. The monthly decline largely reflected fewer sales in Toronto, which accounts for aout one-quarter of the major market total. Activity also softened on a month-over-month basis in Edmonton, Vancouver, Calgary, Saskatoon, and Newfoundland & Labrador.
"Snowfall in Toronto made it tough to show prospective buyers, and tough to process a listing,: said CREA President Ann Bosley. "It was one of the toughtest months ever weatherwise for REALTORS in Toronto."
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