The March 2025 CREA statistics reveal a significant downturn in the Canadian housing market, with national home sales dropping 4.8% from February and down 20% since November's peak. The market is experiencing a divergence between regions, with Ontario and BC showing decline while Prairie provinces, Quebec, and Atlantic Canada maintain some price growth.
- Sales and prices are declining nationally, with the average price falling 3.7% to $678,331, marking the sharpest year-over-year decline in recent times
- inventory levels have increased 18.3% year-over-year, with a sales-to-new listings ratio of 45.9% - the lowest since February 2009
- Market sentiment is being heavily influenced by broader economic factors, including trade tensions, tariffs, and election uncertainty, leading to hesitant buyers and cautious sellers
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