{"id":25509,"date":"2025-03-17T10:10:10","date_gmt":"2025-03-17T17:10:10","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25509"},"modified":"2025-03-17T08:58:21","modified_gmt":"2025-03-17T15:58:21","slug":"crea-reports-sales-fell-to-the-lowest-level-as-buyers-stayed-on-the-sidelines-amid-uncertainty","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/03\/crea-reports-sales-fell-to-the-lowest-level-as-buyers-stayed-on-the-sidelines-amid-uncertainty\/","title":{"rendered":"CREA Reports Sales Fell to The Lowest Level as Buyers Stayed on The Sidelines Amid Uncertainty"},"content":{"rendered":"<p style=\"text-align: justify;\">Ottawa, ON March 17, 2025 \u2013 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.<\/p>\n<p style=\"text-align: justify;\">Sales activity recorded over Canadian MLS\u00ae 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. (Chart A)<\/p>\n<p style=\"text-align: justify;\">\u201cThe 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,\u201d said Shaun Cathcart, CREA\u2019s Senior Economist. \u201cThis is already being reflected in renewed price softness, particularly in Ontario\u2019s Greater Golden Horseshoe region.\u201d<\/p>\n<p style=\"text-align: justify;\">Declines were broad-based, with sales falling in about three-quarters of all local markets and in almost all large markets. The trend was most pronounced in the Greater Toronto Area and surrounding Great Golden Horseshoe regions.<\/p>\n<p style=\"text-align: justify;\"><strong>February Highlights :<\/strong><\/p>\n<p style=\"text-align: justify;\"><em>\u2022 National home sales dropped 9.8% month-over-month.<\/em><br \/>\n<em>\u2022 Actual (not seasonally adjusted) monthly activity came in 10.4% below February 2024.<\/em><br \/>\n<em>\u2022 The number of newly listed properties fell back 12.7% month-over-month.<\/em><br \/>\n<em>\u2022 The MLS\u00ae Home Price Index (HPI) declined 0.8% month-over-month and was down 1% on a year-over-year basis.<\/em><br \/>\n<em>\u2022 The actual (not seasonally adjusted) national average sale price fell 3.3% on a year-over-year basis.<\/em><\/p>\n<p style=\"text-align: justify;\">New listings plunged 12.7% month-over-month, returning all of the surprise surge recorded in January.<\/p>\n<p style=\"text-align: justify;\">With sales and new listings both down by similar magnitudes in February, the national sales-to-new listings ratio edged up sightly to 49.9% compared to 48.3% in January. The long-term average for the national sales-to-new listings ratio is 55%, with readings between 45% and 65% generally consistent with balanced housing market conditions.<\/p>\n<p style=\"text-align: justify;\">There were 146,250 properties listed for sale on all Canadian MLS\u00ae Systems at the end of February 2025, up 13.1% from a year earlier but still below the long-term average for that time of the year of around 174,000 listings.<\/p>\n<p style=\"text-align: justify;\">\u201cThe uncertainty of the last few weeks seems to be causing some buyers to think twice about big financial decisions right now,\u201d said James Mabey, CREA Chair. \u201cFor others, a softer pricing environment and now lower interest rates will be a buying opportunity. If you\u2019re looking to buy or sell a property in 2025, contact a REALTOR\u00ae in your area today.\u201d<\/p>\n<p style=\"text-align: justify;\">There were 4.7 months of inventory on a national basis at the end of February 2025, up sharply from 4.1 months at the end of January. The long-term average is five months of inventory. Based on one standard deviation above and below that long-term average, a seller\u2019s market would be below 3.6 months and a buyer\u2019s market would be above 6.5 months.<\/p>\n<p style=\"text-align: justify;\">The National Composite MLS\u00ae Home Price Index (HPI) declined by 0.8% from January to February 2025, marking the largest month-over-month decrease since December 2023.<\/p>\n<p style=\"text-align: justify;\">The renewed softening in prices was most notable in Ontario\u2019s Greater Golden Horseshoe region.<\/p>\n<p style=\"text-align: justify;\">The non-seasonally adjusted National Composite MLS\u00ae HPI was down 1% compared to February 2024.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/stats.crea.ca\/en-CA\/\" target=\"_blank\" rel=\"noopener\">Tariff Uncertainty Keeping Home Buyers on The Sidelines<\/a> by CREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ottawa, ON March 17, 2025 \u2013 Canadian home sales fell sharply from January to February, as home buyers remained on the sidelines in the first full month of the ongoing &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/03\/crea-reports-sales-fell-to-the-lowest-level-as-buyers-stayed-on-the-sidelines-amid-uncertainty\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-25509","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CREA Reports Sales Fell to The Lowest Level as Buyers Stayed on The Sidelines Amid Uncertainty &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2025\/03\/crea-reports-sales-fell-to-the-lowest-level-as-buyers-stayed-on-the-sidelines-amid-uncertainty\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CREA Reports Sales Fell to The Lowest Level as Buyers Stayed on The Sidelines Amid Uncertainty &#8226; 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