In April, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year, while the average sale price saw an increase. Home sales for April totaled 42,927, a four percent drop from 44,698 in April 2025. On a seasonally adjusted basis, home sales in April rose by 0.7 percent compared to March of this year.
Shaun Cathcart, CREA’s senior economist, mentioned that due to global economic uncertainties and higher mortgage rates, the anticipated housing market rebound for this year is expected to remain subdued. However, there is still some upward momentum in the market despite the challenges.
The national average sale price for a home in April reached $695,412, marking a 2.2 percent year-over-year increase. Nevertheless, CREA’s home price index, which represents typical home sales, saw a 0.1 percent decline from March to April and a 4.2 percent drop compared to the previous year.
New listings for April were up by 4.1 percent from the previous month, signaling the traditional commencement of the spring real estate market. At the end of April, there were 187,647 properties listed for sale across Canada, a 2.2 percent increase from the previous year but 6.1 percent below the long-term average for that time of the year.
The association revised its 2026 forecast for home sales activity, now predicting only a one percent growth compared to the previously expected 5.1 percent due to the impact of the oil price shock on mortgage rates. The national average home price is forecasted to increase by 1.5 percent annually to $688,955 in 2026.
Despite some positive indicators, such as a narrowing gap between listing and selling prices in April, experts caution that the Canadian housing market is still facing challenges. Regional variations were observed with prices declining in British Columbia, Alberta, and Ontario but rising in other provinces. Toronto specifically experienced a 6.3 percent decrease in average home prices compared to last year and a 13 percent drop from 2023 prices.
