The Canadian housing market posted a modest gain in April but remains tilted in buyers’ favour as it moves through the spring sales season, according to the Canadian Real Estate Association (CREA).
Sales and Listings Trends
National home sales rose 0.7 per cent month over month in April, with new listings climbing 4.1 per cent. The sales-to-new-listings ratio eased to 45.6 per cent, from 47.1 per cent in March, which CREA considers the lower end of a balanced market.
New listings outpaced sales for the month, contributing to a gradual stabilization. Before demand dropped sharply in January 2026, the market was considered mostly balanced through late 2025, with a sales-to-new-listings ratio of 45 to 65 per cent. Since January, new listings have been inching closer to a buyer’s market, with a ratio below 45 per cent.
Price Movements
The national benchmark home price fell slightly to $658,100, a decline of 0.1 per cent from March and 4.2 per cent year over year. Some local markets, particularly in Ontario and British Columbia, are already firmly in buyer’s market territory.
- In Ontario’s condo-heavy Greater Toronto Area, the benchmark home price tumbled 12.9 per cent year over year in April.
- Hamilton–Burlington fell 12.7 per cent, and Oakville–Milton dropped 20.4 per cent in the same period.
Conversely, supply conditions tightened while price gains rose in certain Prairie markets, including Saskatoon and Regina. Parts of Quebec and Atlantic Canada also posted notable gains in April.
Economist's Perspective
According to Shaun Cathcart, CREA’s senior economist, the market overall is gradually improving. “While home sales were up only modestly from March to April, the small increase reflected a slow start to the month with a stronger handoff into May,” Cathcart said.
