{"id":25672,"date":"2025-04-28T10:10:06","date_gmt":"2025-04-28T17:10:06","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25672"},"modified":"2025-04-15T10:02:54","modified_gmt":"2025-04-15T17:02:54","slug":"crea-has-downgraded-its-forecast-for-sales-activity-in-2025","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/04\/crea-has-downgraded-its-forecast-for-sales-activity-in-2025\/","title":{"rendered":"CREA Has Downgraded Its Forecast for Sales Activity in 2025"},"content":{"rendered":"<p style=\"text-align: justify;\">Ottawa, ON April 15, 2025 \u2013 Canadian home sales fell on a month-over-month basis once again in March 2025, as rising tariff turmoil and uncertainty is keeping home buyers on the sidelines.<\/p>\n<p style=\"text-align: justify;\">Sales activity recorded over Canadian MLS\u00ae Systems sank 4.8% month-over-month in March 2025. Along with declines in each of the three previous months, national home sales are now down 20% from their recent high recorded last November.<\/p>\n<p style=\"text-align: justify;\">\u201cUp until this point, declining home sales have mostly been about tariff uncertainty. Going forward, the Canadian housing space will also have to contend with the actual economic fallout. In short order we\u2019ve gone from a slam dunk rebound year to treading water at best,\u201d said Shaun Cathcart, CREA\u2019s Senior Economist.<\/p>\n<p style=\"text-align: justify;\">While the largest of these declines have been seen in Ontario and British Columbia, sales are down over the last few months in all but a handful of small markets across the country.<\/p>\n<p style=\"text-align: justify;\">On a non-seasonally adjusted basis, the overall Canadian sales total for March 2025 fell 9.3% year-over-year and was the lowest for that month since 2009.<\/p>\n<p style=\"text-align: justify;\"><strong>March Highlights :<\/strong><\/p>\n<p style=\"text-align: justify;\">\u2022 National home sales fell 4.8% month-over-month.<br \/>\n\u2022 Actual (not seasonally adjusted) monthly activity came in 9.3% below March 2024.<br \/>\n\u2022 The number of newly listed properties moved 3% higher on a month-over-month basis.<br \/>\n\u2022 The MLS\u00ae Home Price Index (HPI) declined 1% month-over-month and was down 2.1% on a year-over-year basis.<br \/>\n\u2022 The actual (not seasonally adjusted) national average sale price was down 3.7% on a year-over-year basis.<\/p>\n<p style=\"text-align: justify;\">New supply moved up by 3% month-over-month in March. Combined with the decrease in sales, the national sales-to-new listings ratio fell to 45.9% compared to 49.7% in February. The March level for this measure of market balance is the lowest since February 2009. The long-term average for the national sales-to-new listings ratio is 54.9%, with readings between 45% and 65% generally consistent with balanced housing market conditions.<\/p>\n<p style=\"text-align: justify;\">There were 165,800 properties listed for sale on all Canadian MLS\u00ae Systems at the end of March 2025, up 18.3% from a year earlier but still below the long-term average (around 174,000 listings) for this time of the year.<\/p>\n<p style=\"text-align: justify;\">\u201cWhile the trend of falling monthly sales has been observed across Canada over the last few months, there are still many regions where sales are high, inventory is near record lows, and prices are rising,\u201d said Val\u00e9rie Paquin, newly installed Chair of CREA\u2019s 2025-2026 Board of Directors. \u201cThere are also parts of the country with historically low sales and the highest inventory levels in a decade or more. If you\u2019re looking to buy or sell a property in 2025, you\u2019ll need to understand the market where you are, so contact a REALTOR\u00ae in your area today.\u201d<\/p>\n<p style=\"text-align: justify;\">There were 5.1 months of inventory on a national basis at the end of March 2025, the highest level since the early months of the pandemic. The long-term average for this measure 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 6.4 months.<\/p>\n<p style=\"text-align: justify;\">The National Composite MLS\u00ae Home Price Index (HPI) declined by 1% from February to March 2025, marking the largest month-over-month decrease since November 2023.<\/p>\n<p style=\"text-align: justify;\">The renewed softening in prices was most notable in British Columbia and Ontario\u2019s Greater Golden Horseshoe. Across much of the Prairies, Quebec, and the East Coast, prices have continued to push higher.<\/p>\n<p style=\"text-align: justify;\">The non-seasonally adjusted National Composite MLS\u00ae HPI was down 2.1% compared to March 2024.<\/p>\n<p style=\"text-align: justify;\">The non-seasonally adjusted national average home price was $678,331 in March 2025, down 3.7% from March 2024.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/stats.crea.ca\/en-CA\/\" target=\"_blank\" rel=\"noopener\">Canadian Housing Demand and Prices Slide Further in March<\/a> by CREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ottawa, ON April 15, 2025 \u2013 Canadian home sales fell on a month-over-month basis once again in March 2025, as rising tariff turmoil and uncertainty is keeping home buyers on &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/04\/crea-has-downgraded-its-forecast-for-sales-activity-in-2025\/\">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-25672","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 v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CREA Has Downgraded Its Forecast for Sales Activity in 2025 &#8226; 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