The Best Place to Work, Buy & Sell Real Estate

The current real estate market, particularly in cities like Toronto, has created a challenging situation for buyers who purchased pre-construction homes during a market peak. These buyers were initially enticed by the prospect of securing a property at a price that seemed reasonable in a hot market. However, with property values now having dropped significantly, many are finding themselves in a tough spot. What once appeared to be a smart investment is now becoming a financial burden.

Many buyers who signed contracts for new condos at inflated prices in the past few years are now facing appraisal values much lower than what they agreed to pay. As a result, financing for the purchase is no longer available, and the difference between the agreed-upon price and the appraised value must be covered out of pocket. In some cases, developers, who are unwilling to absorb the loss, may retain deposits or fees, and buyers may even face legal action to recover the lost value, further complicating their situation.

For these buyers, the situation is made even worse by the limited options available. One potential solution is to offload a pre-construction property by assigning the contract to another buyer, but this process is not straightforward. Builders typically require approval for assignments and may charge hefty fees for this service. Moreover, even if assignment is an option, it’s not guaranteed that another buyer will take on the property at the same price, especially in a market where supply exceeds demand.

The dynamics of the current market, with an oversupply of condos and declining demand, make it even harder for pre-construction properties to retain their value. Buyers who were once seeing rapid increases in the value of their homes are now left holding properties that have lost significant worth. The risk that seemed like a good bet in a booming market has now turned into a financial challenge for many.

This situation is largely a result of market speculation, where buyers were motivated by the expectation that property values would continue to rise. However, as the market cooled and values dropped, the reality of long-term contracts with fixed prices far above current market conditions has created a financial gap that buyers are struggling to bridge. While potential solutions, such as regulatory changes or policies to mitigate risks, are difficult to implement, experts emphasize the importance of understanding the risks of entering into long-term contracts in a fluctuating market. Ultimately, this serves as a cautionary tale for future buyers, highlighting the need for careful consideration of the potential long-term implications before committing to such a significant investment.

A developer in Canada is offering a temporary refund program for homebuyers who purchase preconstruction homes that experience a price drop before their closing date.

This limited-time offer is available to eligible buyers in select regions, specifically Ontario and Alberta, and includes condos and low-rise homes in various communities. The program, called the “Price Protection Program,” ensures that homebuyers will receive a refund for the difference in price if the value of their home decreases after the purchase agreement, but prior to closing. The policy applies to a range of communities in Ontario, including the Greater Toronto Area, as well as areas in Alberta.

The process is straightforward: if the price of a property drops within 30 days of closing, the buyer will be reimbursed the difference, with the calculation based solely on the base price of the home. This policy does not account for upgrades or premiums added to the home’s price, and it focuses specifically on comparing the same base model in the same neighborhood.

The initiative is intended to give potential buyers more confidence in purchasing a home amidst market uncertainty. With a slower housing market in Ontario and declining sales, particularly in the Greater Toronto Area, the policy aims to attract hesitant buyers who may be worried about future price drops.

Industry experts have mixed opinions on the effectiveness of this program. While some see it as an innovative marketing tool to stimulate demand in a sluggish market, others believe it may be more of a publicity stunt. The policy’s fine print specifies that the protection only applies if an identical model in the same phase drops in price, meaning fluctuations in the overall market are not covered.

Despite some skepticism, the program resonates with buyers who are more focused on long-term homeownership than short-term market fluctuations. Developers see it as a way to incentivize buyers, particularly those looking for stability in uncertain times.

This offer is currently set to end on March 8, though interest in the program has been strong, and the developer has hinted that future discussions may take place to determine if it will be extended or expanded.

National home sales in January 2026 saw a significant month-over-month decline, largely due to the impact of severe winter weather in regions like the Greater Golden Horseshoe and Southwestern Ontario. The market slowdown seems more attributable to these weather disruptions than any fundamental shift in demand. Experts are still optimistic for the year ahead, believing that pent-up demand, particularly from first-time buyers, will drive market activity once conditions stabilize.

Overall, national home sales fell by 5.8% compared to December 2025, and were 16.2% lower than the same time last year. Despite the slowdown in sales, the number of newly listed properties rose by 7.3%, indicating that sellers were eager to re-enter the market. The MLS® Home Price Index (HPI) also experienced a month-over-month decline of 0.9%, and was down 4.9% compared to January 2025. The national average sale price dipped by 2.6% year-over-year.

A surge in new listings was seen across many regions, with notable increases in Montreal, Quebec City, Calgary, Greater Vancouver, and Victoria. However, Central and Southwestern Ontario were less active, likely due to the winter storm's effects on both supply and demand. This seasonal fluctuation reinforced the idea that local weather conditions can have a significant impact on the housing market during the colder months.

The sales-to-new-listings ratio for January dropped to 45%, down from 51.3% at the close of 2025. This shift signals a move toward more balanced market conditions, with the long-term average for this ratio being 54.8%. A balanced market generally falls within a ratio range of 45% to 65%, suggesting that the housing market is moving away from the more competitive conditions seen in previous months. The total inventory of homes for sale at the end of January stood at 140,680, a 4.5% increase from the previous year, but still 11.4% below the long-term average for this time of year.

Regionally, the performance of home prices varied. While prices in British Columbia, Alberta, and Ontario remained lower compared to the previous year, some other provinces saw gains. The largest year-over-year declines were observed in Hamilton-Burlington and Oakville-Milton, while Sudbury, Quebec City, and St. John’s, Newfoundland, experienced double-digit price increases. The national average home price in January 2026 was $652,941, marking a 2.6% decrease compared to January 2025, reflecting the overall cooling of the market from the previous year.

When a buyer backs out of a property deal, the seller is usually entitled to keep the deposit and may pursue additional compensation for the breach of the purchase agreement. The seller is obligated to take reasonable steps to reduce their losses, typically by attempting to resell the property. If the market is experiencing a downturn, the resale price could be much lower than the original agreed-upon amount, and the buyer may be held liable for covering the difference. This principle is rooted in the idea that the seller has lost the benefit of the original contract due to the buyer’s failure to complete the transaction.

In cases like this, the buyer might attempt to argue that the seller did not take sufficient steps to mitigate their losses by failing to secure the best resale price. However, the burden of proof is on the buyer to provide compelling evidence to support this claim.

This issue was highlighted in a legal case involving a property transaction in Ontario, where the buyer entered into an agreement to purchase a property for a substantial sum. The buyer was unable to complete the transaction by the agreed date, and after several extensions and additional deposits, the purchase still didn’t go through. The seller eventually sold the property at a much lower price, leading to a claim for damages, including the difference between the original and resale prices.

The buyer contested the damages, arguing that the seller had not properly mitigated their losses by failing to relist the property at a lower price, among other things. The buyer also suggested the seller should have accepted a lower offer that included a vendor-financed mortgage. However, the seller provided evidence showing that they had relisted the property at the same price, reduced the price multiple times, and marketed it through various channels. Crucially, the buyer did not present any evidence, such as an appraisal, to show that the property had been sold for less than its market value.

In response to the seller's motion for summary judgment, which sought to have the court rule without a full trial, the judge emphasized that the buyer had to provide strong evidence to contest the seller's efforts to mitigate damages. Ultimately, the judge found that the seller had made reasonable efforts to market the property and sell it for the best available price. As a result, the court ruled in favor of the seller, awarding damages that included the price difference, carrying costs, interest, and litigation costs.

This case underscores the importance of both parties' actions in the event of a failed real estate transaction. Sellers must show that they took reasonable steps to minimize their losses, such as relisting the property promptly, reducing the price when necessary, and employing effective marketing strategies. On the other hand, buyers seeking to avoid liability for the difference in the resale price face a heavy burden in proving that the seller did not take adequate steps to mitigate the damages. In this case, the buyer was held liable for the full difference in the sale price, highlighting the significant financial consequences of breaching a high-value property transaction.

Buying your first home is an exciting milestone, but it can also feel overwhelming. From navigating financing to choosing the right neighborhood, the process requires careful planning and knowledge. To help you get started, here are some essential tips every first-time homebuyer should keep in mind.

1. Know Your Budget and Get Pre-Approved
Before starting your home search, it’s crucial to understand what you can afford. Factor in not just the price of the home but also additional costs like property taxes, insurance, and maintenance. Getting pre-approved for a mortgage is essential — it gives you a clear price range and shows sellers you’re serious.

2. Understand the Difference Between Pre-Qualification and Pre-Approval
While pre-qualification is a simple, informal process, pre-approval is more in-depth and involves submitting documents for a credit check. A pre-approval letter makes you a stronger buyer, especially in competitive markets.

3. Research the Neighborhood
The neighborhood is just as important as the house itself. Consider the safety, school ratings, proximity to work or amenities, and general vibe. Take the time to visit at different times of day and get a true sense of what living there would be like.

4. Factor in Closing Costs
Many first-time buyers overlook closing costs, which can be 2-5% of the purchase price. These fees include things like appraisal, title insurance, inspection costs, and possibly HOA fees. Plan ahead to ensure you have enough saved for both your down payment and closing costs.

5. Never Skip the Home Inspection
A home inspection is crucial, even if the house seems perfect. It can uncover hidden problems like structural issues or plumbing and electrical concerns that could cost you down the line. It’s an essential step in ensuring your investment is sound.

6. Consider Future Resale Value
Even though you’re buying for the present, it’s wise to consider the home’s future resale potential. Look for homes in desirable neighborhoods or with features that buyers will find appealing in the future, such as extra bedrooms, updated kitchens, or good school districts.

7. Explore First-Time Buyer Programs
Many government programs offer assistance to first-time buyers, including down payment assistance and lower mortgage rates. Research programs available in your area and take advantage of them to save money upfront.

8. Stick to Your Budget
It’s easy to get carried away with a dream home, but it’s important not to overextend yourself financially. Stretching your budget too thin could lead to stress and make it harder to manage your finances in the future. Stick to a price range that keeps you comfortable.

9. Work with an Experienced Agent
A skilled real estate agent can be your biggest asset in the home-buying process. They’ll help you find properties within your budget, negotiate offers, and guide you through the paperwork. Find an agent who specializes in working with first-time buyers and knows the local market well.

10. Be Patient and Flexible
The home-buying process can take time, and it’s important to stay patient. Don’t be discouraged if the first few homes you see don’t work out. Also, be flexible — while it’s great to have a wishlist, you may need to compromise on certain features to find a home that fits your needs and budget.

Buying your first home is a major step, but with the right preparation and advice, it can be a rewarding experience. By following these tips, you’ll be better equipped to navigate the process confidently and find a home that’s perfect for you. Happy house hunting!

The real estate market in Calgary showed a mixed performance in January, with a notable decrease in overall sales compared to the previous year. Calgary recorded 1,234 sales, marking a 15% year-over-year decline. Despite this drop, the figure was in line with the typical activity levels for January. A closer look at property types revealed that higher-density homes, such as row and apartment-style units, experienced the steepest declines. This downturn can be attributed to several factors, including a general hesitation among potential buyers following the traditional December slowdown, and a reduction in urgency as more listings entered the market. While both buyers and sellers appear to be adjusting their strategies, this shift is not unexpected for the season, as many await the arrival of spring to make more definitive moves.

The dynamics of supply and demand played a significant role in shaping the market conditions in Calgary in January. The number of new listings outpaced the sales, causing a rise in inventory levels, which reached 4,391 units—the highest for a January since 2020. This surge in inventory was particularly noticeable in higher-density homes, such as row and apartment-style units, where supply exceeded the demand. As a result, the months of supply for different property types varied significantly, ranging from just under three months for detached homes to over five months for apartment-style homes. These varying levels of supply indicate that buyers’ preferences and market conditions differ based on property type, with detached homes maintaining relatively balanced conditions while higher-density homes faced more inventory pressure.

In terms of pricing, Calgary’s real estate market saw a general decline in benchmark prices compared to the start of the previous year. This was particularly evident in the row and apartment-style homes, where oversupply caused significant price reductions. However, seasonally adjusted figures showed stable pricing compared to the end of 2025, reflecting some price stabilization. Detached homes, for instance, saw a slight decrease in the benchmark price, dropping to $724,000 in January, which is over 3% lower than the previous year. In contrast, semi-detached homes showed more price stability, with only a slight decrease from January 2025. While there were localized price declines in certain districts, the overall trend indicated a mixed but stable price environment, especially in the detached and semi-detached segments.

The regional markets surrounding Calgary—specifically Airdrie, Cochrane, and Okotoks—exhibited varied conditions. Airdrie, though seeing a decline in sales from last January, still experienced relatively strong market activity, with the sales-to-new-listings ratio at 47%. This kept inventory levels within long-term trends, and prices showed modest gains on a monthly basis, despite being down 5% compared to January 2025. In contrast, Cochrane saw a significant rise in new listings, leading to a drop in the sales-to-new-listings ratio to 36%. With inventory levels rising, the months of supply increased to five months, and prices trended down for the third consecutive month. Okotoks, on the other hand, continued to struggle with limited inventory, which restricted sales activity. Despite a relatively high sales-to-new-listings ratio of 63%, the number of units available for sale remained low, keeping months of supply at just over two months. As a result, prices in Okotoks remained relatively stable month-over-month, although they were still 2% lower than the previous year.

The market for higher-density homes, particularly apartments and row homes, continued to face challenges in January, with significant inventory growth contributing to downward pressure on prices. While some areas like the City Centre and West districts saw slight price stability due to localized demand, the overall trend for these property types was negative. Apartment condominiums struggled the most with increased inventory levels and a reduced sales-to-new-listings ratio of 35%. This imbalance caused the benchmark price for apartments to drop nearly 8% year-over-year. As supply continued to outpace demand in this sector, prices are expected to face continued downward pressure in the short term. With over five months of supply in the apartment market, the outlook for this segment appears cautious unless significant changes in demand or supply occur in the coming months.

Mortgage professionals are advising first-time homebuyers and real estate investors to take advantage of the current market conditions, as the Bank of Canada maintains its policy rate at 2.25%, signaling stability to start the year. With interest rates remaining low, it’s seen as a rare opportunity for first-time buyers to enter the housing market at more affordable prices than they would have faced in previous years. However, while lower rates have made homeownership more accessible, many buyers, particularly those in their 30s, may find that entry-level properties no longer meet their space needs, as household requirements grow with age.

For prospective buyers, the choice between a fixed or variable-rate mortgage is crucial, as it depends on their personal risk tolerance and financial situation. Some may prefer the predictability of a fixed rate, while others may opt for the potential savings of a variable rate. The decision ultimately comes down to how much risk one is willing to take on in a market that continues to evolve amid global uncertainties. Despite this, the current low-rate environment has been a point of confidence for many first-time buyers, encouraging them to take the plunge into homeownership now rather than wait for uncertain future conditions.

Real estate investors are also finding opportunities in Canadian Real Estate Investment Trusts, which have become more attractive with the central bank's steady interest rates. These REITs, which focus on property purchases and real estate transactions, offer a potential for growth, particularly in office properties as vacancy rates decline. Investors are being encouraged to reassess their portfolios, as the office market shows signs of a modest recovery. Despite broader economic uncertainties, the local real estate market presents an opportunity for both homebuyers and investors to capitalize on favorable conditions, making this an ideal time for those looking to enter or expand in the market.

Quebec's real estate market in 2025 defied national trends, showing remarkable growth despite broader economic uncertainty. Sales increased across all segments, with the province recording its third-best year ever in terms of activity. Prices rose by about nine percent, and sales grew by an average of eight percent from the previous year. This surge was fueled by favorable financing conditions, such as declining interest rates and extended mortgage amortization periods, alongside a growing shift of renters transitioning into homeownership.

However, the surge in activity also exacerbated the affordability crisis. By the end of 2025, many households reached the limits of their debt capacity, slowing sales and signaling a potential deceleration in 2026. The market's listing-to-sales ratio remains historically low, emphasizing the shortage of available properties. As inventory remains tight, sellers maintain the upper hand, supporting higher prices. Although experts predict more moderate price growth in 2026, the imbalance between supply and demand is expected to continue.

Quebec's major cities, especially Quebec City and Montreal, were key drivers of the market's strong performance. Quebec City saw a 17 percent increase in single-family home prices, making it one of Canada's hottest housing markets. While Montreal's price growth was less dramatic, it still saw notable increases, particularly in the luxury market. Resort regions, such as Mont-Tremblant and the Eastern Townships, also saw increased demand, attracting affluent buyers seeking vacation properties and outdoor lifestyles.

Despite this growth, the market faces a significant shortage of homes, especially single-family homes and multi-unit "plex" properties. Although the condo market showed slight improvements in supply, the demand for single-family homes remains high, keeping prices elevated. The Quebec Professional Association of Real Estate Brokers continues to push for measures to increase supply, but until inventory levels rise, the market will remain heavily tilted in favor of sellers, making homeownership more difficult for many prospective buyers.

As the market shifts, real estate professionals in Quebec are adjusting to a new reality. What was once a stable market is now marked by increased competition and price sensitivity, particularly in larger cities like Montreal. Agents are also navigating changes in regulations, including tighter consumer protection laws and reforms in rental and condo regulations. Despite these challenges, the strong demand and low inventory suggest that Quebec's real estate professionals will continue to stay busy, though they must adapt to an increasingly complex and dynamic market.

Calgary's housing market, shifted from a seller’s market to more balanced conditions as supply in new homes, rentals, and resale properties increased. This shift coincided with a return to more typical demand levels, primarily due to slower migration. As a result, price pressure eased, particularly in apartment and row home segments, which saw the largest supply increases. This stabilization in prices helped balance the market, although broader economic factors such as migration and employment trends continued to influence housing dynamics.

Looking ahead to 2026, supply levels for higher-density homes are expected to remain high due to the completion of 2025's record-high new home starts. However, the rise in inventory is likely to cool new home starts in 2026, easing supply pressures. Demand for housing is expected to remain in line with long-term trends, with previous population and job growth sustaining sales. However, with migration slowing and employment growth softening, no significant uptick in housing demand is anticipated, pointing to a more stable market without major price increases.

The recent MOU regarding pipeline development and regulatory shifts offers long-term economic upside for Alberta, but these changes are unlikely to affect the housing market in 2026, especially given the weaker energy price environment. While sectors like tech, food processing, and petrochemicals may provide economic growth, slower migration and high living costs will continue to limit housing demand. Elevated supply in the market combined with stable demand will likely keep conditions balanced, but this may extend the time needed to absorb the current inventory of resale properties.

Calgary's housing market in 2026 will likely remain in a buyer’s market, especially in the apartment and row home segments, where the supply increase could put downward pressure on prices. Detached and semi-detached homes are expected to see more stability in pricing, but overall residential prices are expected to ease slightly. Buyers will likely have more negotiating power, especially in denser housing types. Although price declines are expected in specific segments, the overall market will likely experience only moderate price reductions.

In 2025, Alberta's resource-driven economy outperformed expectations, but migration levels slowed as employment growth in Calgary faltered. With slower job growth, high unemployment, and a reduction in migration, housing demand is expected to decrease in 2026. While some sectors like healthcare and government will continue to see growth, overall employment gains will be limited, keeping demand in check. This shift in migration and employment will result in more balanced housing market conditions, consistent with long-term trends, and reduce the previous price volatility seen in recent years.

In December 2025, Canadian home sales declined by 1.9% compared to the same period in the previous year, reflecting a year characterized by economic uncertainty. Despite lower interest rates, rising unemployment and global trade tensions, particularly with the U.S., kept many potential buyers on the sidelines. While some markets experienced stagnation, others, particularly in smaller cities, saw more favorable conditions. For example, St. John's, Regina, and Quebec City stood out, with Quebec City seeing a striking 17% year-over-year increase in home prices. This growth was partly driven by a full percentage point reduction in the Bank of Canada’s key interest rate. However, overall market activity remained subdued, as affordability and limited housing supply continued to be key constraints, especially in larger urban markets.

Looking ahead to 2026, experts expect a modest 5.1% increase in home sales across the country. Much of this uptick is expected to come from regions like southern Ontario and British Columbia, where sales were slower in 2025. However, challenges persist. Affordability will remain a significant barrier for many, particularly in major metropolitan areas like Toronto and Vancouver, where prices remain high despite a cooling market. These two cities, in particular, saw significant drops in sales, with Toronto recording its lowest level of home sales since 2000 and Vancouver not far behind. The combination of economic uncertainty, including concerns over the ongoing U.S. trade war and the potential fallout from renegotiations of the trade pact, has kept many buyers cautious. Experts warn that any potential rebound in these markets would likely be slow, as economic fears continue to weigh heavily on sentiment.

In contrast, some regions, including parts of Quebec, the Atlantic provinces, and the Prairies, have seen more stable or even robust housing markets. Areas like New Brunswick, Nova Scotia, and parts of Saskatchewan and Manitoba have remained relatively hot, with homes still more affordable compared to larger urban centers. While these markets haven’t experienced the dramatic price hikes seen in southern Ontario and B.C., they have benefited from consistent demand. However, even in these areas, there are signs of a market correction following the pandemic-induced housing surge. Experts suggest that much of this correction is tied to the rapid growth seen during the pandemic, which is now slowing as the market stabilizes. The outlook for 2026 will largely depend on broader economic conditions. If the labor market improves and economic growth picks up, housing demand could strengthen, helping to stabilize prices. On the other hand, a weaker-than-expected economic recovery could lead to further price declines. While the Bank of Canada is not expected to make immediate changes to interest rates, ongoing economic uncertainty and trade risks could continue to impact the housing market in the coming year.

Vancouver’s housing market is entering a phase of gradual adjustment rather than experiencing sharp price swings or dramatic changes. After two years of fluctuating interest rates and stalled transactions, the market is stabilizing. This shift is driven more by slow-moving fundamentals, such as population growth, household formation, and construction timelines, than by short-term sentiment or headlines. These factors shape the market's direction in a more predictable, steady manner, offering clearer insights into future trends.

Housing cycles are often viewed through price changes, but prices are just an outcome, not the cycle itself. The true cycle involves shifts in market activity, the availability of homes, and the ability of households to transact. In Vancouver, early signals of a market change can be seen in sales volumes, new listings, and rental conditions, with price changes following behind. Current data shows that while sales are low and inventory is up, the market is adjusting rather than correcting. Affordability constraints are limiting transactions, but demand is still there, preventing significant price drops.

Demand in Vancouver is driven by population growth and household formation, but these are not the same. While the population has grown, much of the increase has been absorbed by the rental market, as many newcomers rent or delay purchasing. Rising interest rates have further restricted potential buyers, deferred ownership demand while pushing more people into rentals. This shift in demand helps explain why Vancouver’s market hasn’t seen a major price correction. Demand exists, but affordability is preventing it from turning into transactions.

On the supply side, Vancouver’s housing market faces a significant lag. While construction activity has remained steady, the delivery of new homes takes years, especially for multi-family developments. Rising construction costs and financing challenges have slowed down the pace of new builds, and approval timelines add further delays. As a result, supply struggles to keep up with demand, especially in more affordable segments. This mismatch contributes to ongoing pressure on the market, even though sales activity has slowed.

Affordability remains the key constraint. Though home prices have eased, higher interest rates have raised borrowing costs significantly, making homeownership less accessible. This has limited the number of buyers, and those who are already homeowners are reluctant to sell due to manageable carrying costs. Fewer listings are contributing to market stagnation. At the same time, developers struggle to sell new units when buyers can’t secure financing. With rental demand still strong, the market is adjusting slowly, and Vancouver’s housing market is likely to continue this gradual shift in the years to come.

In 2025, the housing market experienced a notable shift after years of strong price growth, largely due to improved supply levels and reduced demand. The number of new listings surged to over 40,000, a 9% increase from the previous year, easing the pressure that had previously favored sellers. Reduced migration and ongoing uncertainty throughout the year helped balance market conditions. As a result, sales fell by 16% to 22,751 units, but this was still in line with long-term trends, indicating that the market was stabilizing after several years of rapid growth.

The rise in inventory played a significant role in this market transition. With more properties available, conditions shifted to favor buyers, particularly in apartment condominiums and row homes, where supply increases put downward pressure on prices. The overall annual average benchmark price for residential properties declined by 2%. However, the price trends varied significantly across property types and locations. Detached homes saw modest price increases of 1%, while apartment-style condos experienced a nearly 3% price drop. The North East district, in particular, saw significant price declines, while the City Centre remained relatively stable.

In the semi-detached market, prices rose by nearly 3% to an average of $685,850, despite a slight 8% drop in sales. Although this segment was smaller, it followed a similar pattern to detached homes. Meanwhile, row homes saw a 17% drop in sales, but with new listings on the rise, the market shifted to a more balanced state by the end of the year. As a result, prices for row homes declined by 2%, with the most significant price drops occurring in the North East and North districts.

The apartment condominium sector faced the largest adjustment, with sales dropping by 28% from 2024. However, demand remained higher than long-term averages due to an increase in available supply, particularly from purpose-built rental apartments. This shift contributed to a more buyer-friendly market in the second half of the year, pushing prices down by 3%. The steepest price declines were seen in the North East, while the West district experienced relative stability.

Overall, the 2025 housing market reflected a transition from a seller’s market to one of more balance, driven by higher supply and tempered demand. This shift led to price adjustments across various property types, with some areas experiencing price growth while others saw declines, particularly in sectors with increased inventory. The market’s balance by the year's end marked a significant change from the tight, high-demand conditions of previous years.