Market News

The country’s housing market ended 2025 “quietly,” the Canadian Real Estate Association (CREA) said Thursday, capping off a year in which overall home sales declined.

Realtors across Canada sold a total of 470,314 units in 2025, down 1.9 per cent from 2024, CREA said in its latest market report.

“The year was characterized by a tariff-induced flight of buyers back to the sidelines in the first quarter, followed by a decent sales rally mid-year, and a bit of a stall to finish off 2025,” the report said.

In December, national home sales dropped 2.7 per cent on a seasonally adjusted basis and 4.5 per cent from a year earlier.

“There doesn’t appear to have been much rhyme or reason to the month-over-month decline in home sales in December, which was simply the result of coincident but seemingly unrelated slowdowns in Vancouver, Calgary, Edmonton, and Montreal,” CREA senior economist Shaun Cathcart said in a release.

The non-seasonally adjusted National Composite MLS Home Price Index was down four per cent year-over-year, which CREA noted was more prevalent among certain dwelling types.

“Under the surface, year-over-year declines are larger for condo apartments and townhomes, and smaller for one- and two-storey detached homes,” the report said.

The non-seasonally adjusted national average home price was $673,335, which CREA said was “virtually unchanged” from December 2024.