Canada's benchmark home price fell 4.8% in February | CBC News

"What we've seen so far is that home resales are still fairly sluggish. Those trends are primarily impacting Ontario and B.C., but we're starting to see some moderation in other parts of Canada as well, including parts of Alberta and Quebec, where smaller and mid-sized housing markets were hot in the second half of last year."

"February's data showed a continuation of the quieter levels of activity seen in January, but the association expects pent-up demand to boil over during the spring season. New listings were down 3.9 per cent in February compared to January, and the sales-to-new-listings ratio also narrowed."

"Maybe in the latter stages of 2026, we're going to see the market strengthening a little bit, but that's based on some of the uncertainty lifting. The odds are that it's going to be a fairly kind of restrained market as inventory buildup continues to put pressure on prices."

Canadian home sales declined in February compared to January, with the national benchmark price falling to $661,100, down 4.8% from the previous year. New listings decreased 3.9% month-over-month, and the sales-to-new-listings ratio narrowed. Price declines in British Columbia, Ontario, and Alberta offset gains in other provinces. While activity remains sluggish in larger cities due to economic anxiety, smaller markets like Quebec City, Regina, and St. John's experienced significant price increases. Inventory buildup is pressuring prices across the market. Economists expect pent-up demand to emerge during spring, with potential market strengthening in late 2026 as economic uncertainty diminishes.

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