Housing market activity in Canada experienced a slight uptick during April, with sales climbing marginally from the previous month while home values decreased modestly, according to Thursday’s report from the Canadian Real Estate Association.
The data reveals several key trends in the Canadian housing market:
• Monthly sales grew by 0.7% from March to April
• Year-over-year sales dropped 4% when comparing unadjusted figures
• The association’s Home Price Index declined 0.1% monthly and fell 4.2% compared to the same period last year
• New property listings jumped 4.1% from the previous month
• The ratio of sales to new listings decreased to 45.6% from March’s 47.1%, dropping further below historical averages
Shaun Cathcart, the organization’s senior economist, explained the market dynamics in a prepared statement: “While home sales were up only modestly from March to April, the small increase reflected a slow start to the month with a stronger handoff into May, alongside falling days on market and stabilizing prices.”
Cathcart also addressed broader economic factors affecting the housing sector: “This latest bout of global economic uncertainty and higher mortgage rates means the previously expected rebound in housing markets this year will continue to be muted, but it does not mean there will be no upward momentum at all.”
The sluggish performance early this year prompted the association to reduce its sales projections for 2026 last month.
