The Canadian Real Estate Association reported a decline in home sales in April compared to the previous year, with an increase in the average sale price. Total home sales for April stood at 42,927, a four percent drop from 44,698 in April 2025. On a seasonally adjusted basis, home sales in April rose by 0.7 percent compared to March this year.
CREA’s senior economist, Shaun Cathcart, mentioned that due to global economic uncertainty and higher mortgage rates, the anticipated rebound in housing markets for this year will be subdued. However, there is still some positive momentum expected despite the challenges.
According to Cathcart, the slight increase in home sales from March to April indicated a slow start to the month but a stronger performance heading into May, with decreasing days on the market and stabilizing prices. Despite this uptick, sales remained approximately 10 percent below normal April levels, as noted by BMO chief economist Douglas Porter.
The national average sale price of a home in April was $695,412, marking a 2.2 percent annual increase. However, CREA’s home price index, representing typical home sales, saw a 0.1 percent decrease from March to April and a 4.2 percent decline year-over-year.
In April, new listings rose by 4.1 percent on a month-over-month basis, signaling the traditional start of the spring real estate market. The total number of properties listed for sale across Canada at the end of April was 187,647, a 2.2 percent increase from the previous year but 6.1 percent below the long-term average for that period.
The association revised its forecast for 2026 home sales activity, now predicting only one percent growth compared to the initial projection of 5.1 percent due to the impact of the oil price shock on mortgage rates. The national average home price is expected to rise by 1.5 percent annually to $688,955 in 2026, slightly lower than previously estimated.
Despite some positive indicators, including a narrowing gap between listing and selling prices in April, experts caution that the Canadian housing market may not see a significant recovery soon. Regional variations were noted, with price declines in British Columbia, Alberta, and Ontario offsetting gains in other provinces. Toronto, for instance, experienced a 6.3 percent drop in average home prices compared to last year and a 13 percent decrease from 2023 prices, reflecting the overall subdued housing market activity across the country.