Canadian Housing Demand and Prices Slide Further in March

Canadian home sales fell on a month-over-month basis once again in March 2025, as rising tariff turmoil and uncertainty is keeping home buyers on the sidelines.

Sales activity recorded over Canadian MLS® Systems sank 4.8% month-over-month in March 2025. Along with declines in each of the three previous months, national home sales are now down 20% from their recent high recorded last November.

“Up until this point, declining home sales have mostly been about tariff uncertainty. Going forward, the Canadian housing space will also have to contend with the actual economic fallout. In short order we’ve gone from a slam dunk rebound year to treading water at best,” said Shaun Cathcart, CREA’s Senior Economist.

Access the March 2025 stats PDF.


CREA Downgrades Resale Housing Market Forecast Amid Tariff Uncertainty and Economic Uncertainty

The Canadian Real Estate Association (CREA) has updated its 2025 and 2026 forecasts for home sales activity and average home prices via the Multiple Listing Service® (MLS®) Systems of Canadian real estate boards and associations.

CREA released its previous forecast on January 15. While it was too early to incorporate the potential and significant downside risks of a trade war into the forecast at that time, the forecast did state that tariffs targeting the Canadian economy would put what had been expected to be a recovery year for housing in Canada in jeopardy.

Access the April 2025 forecast PDF.