By The Canadian Press
April 15, 2025
The number of homes that changed hands across the country in March was down 9.3 per cent compared with a year ago, as the Canadian Real Estate Association downgraded its forecast for home sales activity in 2025. A real estate sign is shown in Vaughan, Ont. on Thursday Sept. 12, 2024. THE CANADIAN PRESS/Paige Taylor White
The Canadian Real Estate Association has downgraded its forecast for home sales activity in 2025, while the number of homes that changed hands across the country in March was down 9.3 per cent compared with a year ago.
The association says Canadian home sales in March also fell 4.8 per cent on a seasonally adjusted month-over-month basis from February, as potential buyers stayed on the sidelines amid concerns over tariffs and economic uncertainty.
CREA is now expecting a total of 482,673 residential properties to be sold throughout the year, essentially unchanged from 2024, but marking a steep cut from its previous forecast in January of an 8.6 per cent increase from last year.
The national average home price is forecast to decrease a slight 0.3 per cent on an annual basis to $687,898 in 2025, which would be around $30,000 lower than predicted in early January.
CREA senior economist Shaun Cathcart says that in short order, Canada’s housing market has “gone from a slam dunk rebound year to treading water at best.”
In March, the national average sale price fell 3.7 per cent compared with a year earlier to $678,331.
This report by The Canadian Press was first published April 15, 2025.
Sammy Hudes, The Canadian Press
The Canadian Real Estate Association has downgraded its forecast for home sales activity in 2025, while the number of homes that changed hands across the country in March was down 9.3 per cent compared with a year ago.
The association says Canadian home sales in March also fell 4.8 per cent on a seasonally adjusted month-over-month basis from February, as potential buyers stayed on the sidelines amid concerns over tariffs and economic uncertainty.
CREA is now expecting a total of 482,673 residential properties to be sold throughout the year, essentially unchanged from 2024, but marking a steep cut from its previous forecast in January of an 8.6 per cent increase from last year.
The national average home price is forecast to decrease a slight 0.3 per cent on an annual basis to $687,898 in 2025, which would be around $30,000 lower than predicted in early January.
CREA senior economist Shaun Cathcart says that in short order, Canada’s housing market has “gone from a slam dunk rebound year to treading water at best.”
In March, the national average sale price fell 3.7 per cent compared with a year earlier to $678,331.
This report by The Canadian Press was first published April 15, 2025.
Sammy Hudes, The Canadian Press
CMHC reports annual pace of housing starts slowed in March
By The Canadian Press
Published: April 15, 2025
Townhouses under construction are seen in Delta, B.C.
THE CANADIAN PRESS/Darryl Dyck
OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in March slowed compared with February.
The national housing agency says the seasonally adjusted annual rate of housing starts came in at 214,155 units in March, down from 221,405 in February.
The change came as the annual pace of starts in centres with a population of 10,000 or greater fell 2.8 per cent to 203,285 compared with 209,093 in February.
The annual pace of starts of single-detached homes in centres with a population of 10,000 or greater rose one per cent to 43,012 in March, while the rate of starts of all other homes in centres with a population of 10,000 or greater fell four per cent to 160,273.
The annual pace of rural starts was estimated at 10,870 in March.
The six-month moving average of the seasonally adjusted annual rate fell 0.7 per cent in March to 235,316.
The Canadian Press
OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in March slowed compared with February.
The national housing agency says the seasonally adjusted annual rate of housing starts came in at 214,155 units in March, down from 221,405 in February.
The change came as the annual pace of starts in centres with a population of 10,000 or greater fell 2.8 per cent to 203,285 compared with 209,093 in February.
The annual pace of starts of single-detached homes in centres with a population of 10,000 or greater rose one per cent to 43,012 in March, while the rate of starts of all other homes in centres with a population of 10,000 or greater fell four per cent to 160,273.
The annual pace of rural starts was estimated at 10,870 in March.
The six-month moving average of the seasonally adjusted annual rate fell 0.7 per cent in March to 235,316.
The Canadian Press
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