Montreal-area home sales up in February amid ‘resurgence of overbidding’, real estate board says

Home sales in the Montreal area increased in February, driven by a resurgence of overbidding amid low inventory and high demand. The number of homes sold rose by 12% compared to the previous year, with notable activity in the single-family home market. Experts suggest that buyers are adapting to higher mortgage rates and are becoming more competitive as they seek to secure homes. The real estate market remains challenging for potential buyers due to limited listings, indicating a continuing trend of price increases.