Annual home sales down 4.3% in May, but activity up on monthly basis

The Canadian Press

· Posted: Jun 16, 2025 11:15 AM EDT | Last Updated: 1 hr ago

The Canadian Real Estate Association says location income successful May fell 4.3 per cent compared with a twelvemonth ago, but enactment picked up erstwhile compared to the erstwhile month.

Home income roseate 3.6 per cent from April, marking the archetypal month-over-month summation astatine the nationalist level successful much than six months.

CREA elder economist Shaun Cathcart says that aft buyers sat connected the sidelines for overmuch of 2025 truthful far, determination is simply a sense "maybe the expected turnaround successful lodging enactment this twelvemonth was conscionable delayed for a fewer months by the archetypal tariff chaos and uncertainty."

The relation besides says caller listings roseate 3.1 per cent period implicit month.

There were 201,880 properties listed for merchantability crossed Canada astatine the extremity of May, up 13.2 per cent from a twelvemonth earlier, but inactive 5 per cent beneath the semipermanent mean for the period of astir 211,500 listings.

The existent nationalist mean merchantability terms of a location sold successful May was $691,299, down 1.8 per cent from a twelvemonth ago.

"Canada's lodging marketplace remains subdued, but resale conditions successful wide are not worsening, portion operation enactment continues to propulsion ahead," wrote Robert Kavcic, elder economist astatine BMO.

"At a precocious level, it appears that a little assertive code connected the commercialized beforehand and immoderate governmental clarity successful Canada person eased the accent connected purchaser confidence, but owe rates are inactive not debased capable to amended affordability and/or rekindle capitalist demand. We proceed to spot subdued income and listless prices astatine the nationalist level."