""It would be prudent for market observers to resist the temptation to trace a line from the end of 2025 into 2026," said CREA senior economist Shaun Cathcart in a statement. "We continue to expect sales to move higher again as we get closer to the spring, rejoining the upward trend that was observed throughout the spring, summer and early fall of last year.""
"Some Canadian markets saw buyers stay staunchly on the sidelines in 2025, spooked by elevated unemployment and fears drummed up by the U.S. trade war. But activity and prices got a healthy boost in markets like St. John's, Regina and Quebec City with the latter city seeing a whopping 17 per cent price increase year-over-year as the Bank of Canada lowered its key interest rate by a full percentage point in 2025."
"Home sales in December hit a 20-year low in two major markets. Just 62,433 homes were sold in Toronto last year (the lowest level since 2000), while Vancouver notched 23,800 home sales, a figure even lapped by the number of homes sold during the 2008 financial crisis. Toronto's housing market may be turning the page on a sluggish year, but 2026 is "showing more signs of the same," said John Pasalis, president and broker at Realosophy Realty."
National home sales in Canada declined 1.9 per cent in December year-over-year, reflecting a year of lower interest rates coupled with heightened economic anxiety. Buyers remained on the sidelines in some markets during 2025 due to elevated unemployment and fears stemming from the U.S. trade war. Activity and prices increased in cities such as St. John's, Regina and Quebec City, with Quebec City posting a 17 per cent year-over-year price rise after a one percentage point Bank of Canada rate cut. CREA expects sales to rise toward spring, but affordability and uncertainty may keep many first-time buyers out.
Read at www.cbc.ca
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