National home sales on MLS systems across Canada in April were essentially flat when compared to March. The Canadian Real Estate Association (CREA) released its monthly report on Thursday, showing sales in April were down a slight 0.1% from March, tempering a trend of declining sales since the beginning of the year. The demand for homes has declined to levels last seen during the second half of 2022, and the first and third quarters of 2023, said Shaun Cathcart, CREA’s senior economist. “At this point, the 2025 Canadian housing story would best be described as a return to the quiet markets we’ve experienced since 2022, with tariff uncertainty taking the place of high interest rates in keeping buyers on the sidelines,” said Cathcart. “Given the increasing potential for a rough economic patch ahead, the risk going forward will be if an average number of people trying to sell their homes turns into a large number of people who have to sell their homes, and that’s something we have not seen in decades.” .The report highlights sales in April were down 9.8% from April last year, and the number of newly listed properties also declined 1% in April from March and were down 3.6% from april2024. The actual national average sales price was dropped 3.9% on a year-over-year basis. “New supply declined by 1% month-over-month in April and combined with flat sales, the national sales-to-new listings ratio climbed to 46.8% compared to 46.4% in March,” aid Cathcart. The long-term average for the national sales-to-new listings ratio is 54.9%, with readings between 45% and 65% generally consistent with balanced housing market conditions.” The supply of homes for sale increased compared to last year, with 183,000 properties listed for sale on all Canadian MLS Systems at the end of April 2025, up 14.3% from a year earlier but still below the long-term average for that time of the year of around 201,000 listings. “The number of homes for sale across Canada has almost returned to normal, but that is the result of higher inventories in BC and Ontario and tight inventories everywhere else,” said Valérie Paquin, CREA chair. “There were 5.1 months of inventory on a national basis at the end of April 2025, in line with the long-term average of five months of inventory.” .“Based on one standard deviation above and below that long-term average, a seller’s market would be below 3.6 months and a buyer’s market would be above 6.4 months.” The national composite MLS home price Index declined by 1.2% from March to April 2025, while the non-seasonally adjusted national composite home price index declined 3.6% compared to March 2024, said the report.
National home sales on MLS systems across Canada in April were essentially flat when compared to March. The Canadian Real Estate Association (CREA) released its monthly report on Thursday, showing sales in April were down a slight 0.1% from March, tempering a trend of declining sales since the beginning of the year. The demand for homes has declined to levels last seen during the second half of 2022, and the first and third quarters of 2023, said Shaun Cathcart, CREA’s senior economist. “At this point, the 2025 Canadian housing story would best be described as a return to the quiet markets we’ve experienced since 2022, with tariff uncertainty taking the place of high interest rates in keeping buyers on the sidelines,” said Cathcart. “Given the increasing potential for a rough economic patch ahead, the risk going forward will be if an average number of people trying to sell their homes turns into a large number of people who have to sell their homes, and that’s something we have not seen in decades.” .The report highlights sales in April were down 9.8% from April last year, and the number of newly listed properties also declined 1% in April from March and were down 3.6% from april2024. The actual national average sales price was dropped 3.9% on a year-over-year basis. “New supply declined by 1% month-over-month in April and combined with flat sales, the national sales-to-new listings ratio climbed to 46.8% compared to 46.4% in March,” aid Cathcart. The long-term average for the national sales-to-new listings ratio is 54.9%, with readings between 45% and 65% generally consistent with balanced housing market conditions.” The supply of homes for sale increased compared to last year, with 183,000 properties listed for sale on all Canadian MLS Systems at the end of April 2025, up 14.3% from a year earlier but still below the long-term average for that time of the year of around 201,000 listings. “The number of homes for sale across Canada has almost returned to normal, but that is the result of higher inventories in BC and Ontario and tight inventories everywhere else,” said Valérie Paquin, CREA chair. “There were 5.1 months of inventory on a national basis at the end of April 2025, in line with the long-term average of five months of inventory.” .“Based on one standard deviation above and below that long-term average, a seller’s market would be below 3.6 months and a buyer’s market would be above 6.4 months.” The national composite MLS home price Index declined by 1.2% from March to April 2025, while the non-seasonally adjusted national composite home price index declined 3.6% compared to March 2024, said the report.