In April, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year, despite a rise in the average sale price. Total home sales for April were 42,927, which was a four percent drop from the 44,698 sales recorded in April 2025. However, on a seasonally adjusted basis, home sales in April saw a slight increase of 0.7 percent from the previous month.
CREA’s senior economist, Shaun Cathcart, mentioned that ongoing global economic uncertainties and higher mortgage rates are tempering the expected rebound in the housing market for the year. Although the housing market is not expected to experience a significant upturn, there are indications of some upward momentum, as reflected in the slow but steady increase in home sales from March to April.
Despite the recent uptick in activity, home sales still lag around 10 percent below the typical levels for April, according to BMO chief economist Douglas Porter. The national average sale price of a home in April was $695,412, marking a 2.2 percent increase from the previous year. However, CREA’s home price index, which represents typical home sales, dipped slightly between March and April, showing a 0.1 percent decrease and a 4.2 percent decline year-over-year.
New listings for April increased by 4.1 percent compared to the previous month, signaling the start of the spring real estate season. At the end of April, there were 187,647 properties listed for sale across Canada, a 2.2 percent rise from the previous year but still 6.1 percent below the long-term average for that time of year.
In response to the ongoing market conditions, CREA revised its 2026 forecast for home sales activity, now predicting only a one percent growth compared to the previous year due to factors like the oil price shock affecting mortgage rates. The national average home price is expected to increase by 1.5 percent annually to $688,955 in 2026.
The narrowing gap between listing and selling prices in April could potentially stimulate market movement, according to Cathcart. However, regional variations persist, with British Columbia, Alberta, and Ontario experiencing price decreases, while other provinces see gains. Notably, in Toronto, the average home price in April dropped by 6.3 percent year-over-year and 13 percent compared to 2023 prices, indicating subdued market activity across the country.