Canadian Housing Market is Showing A Degree of Stabilization Heading Into Spring Season https://buff.ly/kdOhDnG affordable markets continue to lead, sales rebound in the #FraserValley

Canada’s housing market showed signs of life in April 2026, with spring delivering the first monthly increases of the year in sales, prices, and sales speed, as measured by fewer days on market.

About 42,900 homes were sold across the country last month, according to the Canadian Real Estate Association (CREA). That’s still down 4% from April 2025, but on a month-over-month basis, sales edged up 0.7%. The average home price climbed to $695,412, up 2.2% from a year ago, marking the first year-over-year price gain of 2026. New listings were essentially flat, rising just 0.2% to around 96,000, so no major surge in supply to throw things off balance.

It’s not a dramatic turnaround, but after a slow start to the year, the market is showing a degree of stabilization heading into the traditionally busy spring season.

“While many buyers remain in a wait-and-see mode, the April national housing numbers did move in the right direction across the board,” said CREA Chair, Garry Bhaura. “With the spring listings now coming onto the market, sales were up, days on market were down, and prices continued to stabilize. The data trends suggest more of the same for May.”

CREA’s Senior Economist was measured in his optimism. “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, alongside falling days on market and stabilizing prices,” said Shaun Cathcart. “This latest bout of global economic uncertainty and higher mortgage rates means the previously expected rebound in housing markets this year will continue to be muted, but it does not mean there will be no upward momentum at all.”

Nationwide, there were 187,647 properties listed for sale at the end of April 2026, up 2.2% from a year earlier but still 6.1% below the long-term average for that time of year.

Affordable Markets Continue to Lead on Price Increases

Smaller and more affordable markets once again posted the strongest year-over-year price gains in April. Thunder Bay led the country with a 24.3% increase, bringing the average price to $433,600. Trois-Rivières CMA followed with a 20.2% gain to $458,215, and Newfoundland and Labrador rounded out the top three with an 8.7% climb to $355,067. These markets continue to attract buyers seeking value outside of Canada’s major urban centres, and their consistent outperformance is a defining feature of the 2026 market so far.

Price Declines Persist Across Southern Ontario

Several markets in Southern Ontario continued to see year-over-year price corrections in April. Niagara Region recorded the steepest drop at 11.2%, with the average price falling to $620,108. Greater Toronto followed with a 4.9% decline to $1,051,969, while London and St. Thomas fell 4.7% to $619,470, and Kitchener-Waterloo dropped 4.1% to $759,467. Hamilton-Burlington also declined, falling 3.8% to $830,315. The pattern of correction in these markets has been consistent throughout 2026, reflecting lingering affordability pressures and cautious buyer sentiment in the region.

Sales Rebound in Toronto and The Fraser Valley

Two of Canada’s most closely watched markets showed encouraging signs on the sales front in April. Greater Toronto recorded 5,946 transactions, a 7.0% year-over-year increase from 5,556 in April 2025, a notable turnaround after months of declines. The Fraser Valley also posted a gain, with sales rising 7.6% year-over-year to 1,045 units. Greater Vancouver had a modest 1.6% decline to 2,114 transactions.

Prices remained under pressure across most of these markets despite the sales rebound. Greater Toronto slipped 4.9% year-over-year to $1,051,969, and the Fraser Valley edged down 0.5% to $1,003,493. Greater Vancouver was essentially flat at $1,218,745, up just 0.3%, while Victoria declined 1.6% to $1,043,987. The combination of rising sales and softening prices suggests buyers may be returning to these markets at lower price points, a dynamic worth watching as spring progresses.

Alberta Holds Its Ground

Alberta’s two major markets continued to hold their ground in April. Calgary posted 2,790 sales at an average price of $670,264, a 1.1% year-over-year price gain despite a 6% decline in transactions. Edmonton recorded 2,666 sales at an average of $473,526, with prices rising a stronger 2.7% year-over-year. Both cities remain well below the national average, and with prices trending positive amid broader economic uncertainty, Alberta continues to be one of the more stable housing markets in the country.

Quebec Adds Supply While Ontario and BC Pull Back

National new listings were nearly flat year-over-year at 96,083 (+0.2%). However, Quebec’s markets saw a significant surge in new supply. Trois-Rivières CMA led all markets with a 45.3% jump to 250 listings, followed by Quebec CMA at 25.1% to 1,386 and Halifax-Dartmouth at 16.1% to 903. Ottawa also posted a healthy gain of 13.4% to 2,728 listings, and London and St. Thomas rose 10.7% to 1,757.

On the other side, supply contracted sharply in some markets. Sudbury saw the steepest drop at 30.6% to just 270 new listings, followed by Greater Toronto at -9.3% to 17,097 and Fraser Valley at -11.5% to 3,076. The pullback in new supply in these larger Ontario and BC markets, even as sales begin to recover, could be an early signal of tightening conditions heading into late spring.

wondering what this means for your plans to buy or sell?

CREA : Home Prices Increase 2.2% Year-Over-Year in April for first Gain of 2026 by Angela Serednicki | zoocasa