After a slow start to the year, Canada's housing market is beginning to show signs of recovery. According to the Canadian Real Estate Association (CREA), national home sales rose by 3.6% in May 2025, marking the first monthly increase since November 2024. The uptick was driven by stronger activity in key markets like Toronto, Calgary, and Ottawa.
New listings were also up by 3.1%, indicating that more sellers are re-entering the market. The sales-to-new listings ratio remained steady at 47%, signaling a balanced market.
Inventory levels held firm, with 4.9 months of supply, close to the long-term average. While home prices declined slightly by 0.2% from April, the pace of decline has slowed. The national average home price stood at $691,299, down 1.8% year-over-year.
CREA notes that this could be the start of a gradual market turnaround, following months of uncertainty.
Comments:
Post Your Comment: