The rise of 1.4 per cent from January and 6 per cent from February 2016 reported in a survey of 53 metros by RE/MAX came as sales were essentially flat while active inventory fell to a record low for the month.
"Inventory, not the rise in interest rates, remains the principal constraint on home sales," said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.
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Home prices south of the border reached a median U$212,000 in February, a record high for the month.