B.C.’s housing market performance faltered in February as home sales fell, retracing most of the gains made in the prior month. Seasonally adjusted MLS home sales declined 7.2 per cent to 5,706 sales as buyer sentiment took a hit from more certainty on the timing of rate cuts. This followed a 7.4-per-cent gain in January as momentum in late 2023 flowed into the first month of the year. Home prices in the province pulled back one per cent in February, but prices remain elevated, making home ownership still out of reach for many.

MLS home sales decreased sharply in most of the province’s real estate board areas. Greater Vancouver region and the Fraser Valley saw sales decline by 7.3 per cent and 10.3 per cent, respectively, after two months of........

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