Canadian residential real-estate market shows more signs of cooling in February

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OTTAWA - There's more evidence that Canada's real estate market is continuing to cool.

The Canadian Real Estate Association says resales of houses and condos through its members fell 2.1 per cent month-to-month in February.

That reversed a small gain in January.

On a year-over-year basis, last month's activity was down 15.8 per cent — a decline that was exaggerated slightly by an extra day in February 2012

The association says the national average price for homes sold in February through its members was $368,895.

That is a one per cent decline from the same month last year — although CREA says there would have been a small increase without Vancouver's numbers.

Organizations: Canadian Real Estate Association

Geographic location: OTTAWA, Canada, Vancouver

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