In April 2025, Canada’s housing market showed signs of stabilizing after months of declining home sales, according to the latest figures from the Canadian Real Estate Association. National home sales remained virtually unchanged from March, halting a downward trend that had persisted since late 2024. Despite this pause, sales volumes were still nearly 10% lower compared to the same month a year earlier, with around 44,300 homes sold across the country.

The number of newly listed properties declined slightly by 1% in April, while total active listings rose 14.3% year-over-year to approximately 183,000. However, this figure remains below the historical average of 201,000 for this time of year. This increase in inventory has pushed the national sales-to-new listings ratio to 46.8%, indicating a balanced market by industry standards.

Home prices continued to slide, with the MLS® Home Price Index falling 1.2% month-over-month and 3.6% year-over-year. The national average sale price dropped to $679,866, down nearly 4% from April 2024. However, these national figures mask considerable regional differences. High-priced markets in Ontario and British Columbia experienced more significant price declines, while prices in more affordable regions such as the Maritimes, Quebec, Manitoba, and Saskatchewan have shown growth.

Inventory levels also vary widely across regions. Major urban centers like Toronto and Vancouver are seeing 10- to 15-year highs in available homes, whereas parts of the Prairies and the East Coast are still facing tight supply conditions.

While national averages suggest a cooling market, local dynamics remain diverse. Economic uncertainty and regional disparities continue to shape buyer and seller behavior, highlighting the importance of analyzing market trends on a local level rather than relying solely on national data.