Home sales in Canada experienced a decline in April compared to the previous year, while the average sale price rose. The Canadian Real Estate Association reported that April saw 42,927 home sales, a four percent drop from the 44,698 transactions in April 2025. However, on a seasonally adjusted basis, home sales in April increased by 0.7 percent compared to March.
CREA’s senior economist, Shaun Cathcart, noted that global economic uncertainty and higher mortgage rates have tempered the anticipated housing market rebound this year. Despite the modest uptick in home sales from March to April, there is a slow start to the month, but with a stronger outlook for May, indicated by decreasing days on market and stabilizing prices.
Although there was an increase in activity, sales in April remained approximately 10 percent below the average levels for that month. The national average sale price for a home in April was $695,412, marking a 2.2 percent year-over-year increase.
The Home Price Index by CREA, 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 compared to the previous month, signaling the traditional start of the spring real estate market.
At the end of April, there were 187,647 properties listed for sale across Canada, reflecting a 2.2 percent increase from the previous year but still 6.1 percent below the long-term average for that period. CREA revised its 2026 forecast for home sales, now projecting only a one percent growth due to the impact of the oil price shock on mortgage rates.
While the national average home price is expected to rise by 1.5 percent annually to $688,955 in 2026, it is lower than the initial prediction. Despite narrowing the gap between listing and selling prices, Cathcart mentioned that this could stimulate market activity.
Regional variations were observed in home prices, with declines in British Columbia, Alberta, and Ontario offsetting gains in other provinces. Toronto witnessed a 6.3 percent decrease in average home price compared to last year and a 13 percent drop from 2023 prices. Overall, there are notable regional differences, but a prevailing trend of subdued housing market activity across much of the country.
