The Canadian Real Estate Association (CREA) recently released national sales statistics for February 2025.
Canadian home sales fell sharply from January to February, as home buyers remained on the sidelines in the first full month of the ongoing trade war with the United States
Sales activity recorded over Canadian MLS® Systems dropped 9.8% month-over-month in February 2025, marking the lowest level for home sales since November 2023, and the largest month-over-month decline in activity since May 2022.
“The moment tariffs were first announced on January 20, a gap opened between home sales recorded this year and last. This trend continued to widen throughout February, leading to a significant, but hardly surprising, drop in monthly activity,” said Shaun Cathcart, CREA’s Senior Economist. “This is already being reflected in renewed price softness, particularly in Ontario’s Greater Golden Horseshoe region.”
February Highlights:
• National home sales dropped 9.8% month-over-month.
• Actual (not seasonally adjusted) monthly activity came in 10.4% below February 2024.
• The number of newly listed properties fell back 12.7% month-over-month.
• The MLS® Home Price Index (HPI) declined 0.8% month-over-month and was down 1% on a year-over-year basis.
• The actual (not seasonally adjusted) national average sale price fell 3.3% on a year-over-year basis.
Read the recently released national sales statistics for February of 2025.
UPDATE - CREA’s Residential Market Forecast for 2025.
I’m always happy to answer your Saskatoon real estate questions. Reach out by voice or text at 306-900-4161 or email me at norm at teamfisher.com
Norm Fisher
Royal LePage Saskatoon Real Estate
Comments:
Post Your Comment: