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In April 2025, Canada's housing market showed signs of stabilization, with national home sales declining by 9.8% compared to April 2024, while remaining virtually unchanged from March on a seasonally adjusted basis, according to the Canadian Real Estate Association (CREA). This indicates a pause in the downward trend observed earlier in the year. CREA described the market as entering a "transition period," suggesting a shift from the volatility experienced during the pandemic years. The national average home price was $678,331 in March 2025, down 3.7% from March 2024.

Regionally, the Greater Toronto Area (GTA) experienced a significant year-over-year decline in home sales, down 23.3% in April. Despite this, there was a modest 1.8% increase in sales compared to March, indicating a slight rebound. The average selling price in the GTA fell by 0.7% from March to $1,065,687, marking the fifth month of price declines in the last six. Experts attribute these trends to ongoing economic uncertainties, including trade tensions with the United States, which have led to cautious consumer behavior.

On the supply side, housing starts in Canada surged by 30% in April compared to March, driven primarily by multi-unit developments in larger cities like Montreal. This increase in new construction suggests a potential easing of supply constraints in the housing market. However, the current economic climate, marked by trade disputes and inflation concerns, continues to influence buyer sentiment and market dynamics. As the summer approaches, the housing market's trajectory will likely depend on broader economic developments and policy responses.

Read the full article on: Global NEWS