Housing Market in Canada: Newest Information for Newcomers

For a lot of newcomers, shopping for a house in Canada is a dream that may assist set roots and construct fairness. Researching the housing market in Canada is important when contemplating what metropolis to settle in, the place, and when to purchase a house. Following housing costs in Canada will help you uncover probably the most inexpensive cities. Uncover the newest housing market statistics from February 2025 that reveal the steepest housing gross sales decline in Canada in virtually two years.

For newcomers seeking to purchase a house, February gross sales within the Canadian housing market dropped 9.8% from January. In accordance with the most recent statistics from the Canadian Actual Property Affiliation (CREA), precise residence gross sales have been down year-over-year by 10.4% in February.

CREA additionally reported that the precise nationwide common sale value of a house in Canada bought in February was $668,097. That’s down 3.3% from a 12 months in the past. The identical report exhibits that new listings dropped 12.7% month-over-month. This follows a shock 11% improve in listings in January.

Canada’s Housing Market Woes Linked to Commerce Conflict

In February, probably the most vital decline in residence gross sales occurred within the British Columbia and Ontario housing markets.

In accordance with housing consultants like Scotiabank’s Patrick Perrier, this steep decline is linked on to the “darkened” commerce battle between the U.S. and Canada.

“Not surprisingly,” stated Perrier, “potential consumers are nervous to buy a property given this excessive stage of uncertainty about their future employment and revenue circumstances.” He stated the commerce battle background was clearly at play in housing market exercise in current months.

The CREA report additionally says new listings fell 12.7% month-over-month, following an surprising hike in January.

Canada Housing Market Gross sales Sluggish within the GTA

In February, the overall housing listings throughout Canada have been up 13.1% from final 12 months to about 146,000. Nonetheless, that’s nonetheless beneath the long-term common for the time of 12 months of 174,000 listings.

In accordance with CREA, the decline in gross sales occurred in most markets throughout Canada. Three-quarters of native markets and virtually all massive markets noticed a fall in gross sales.

The slowest gross sales, nevertheless, occurred within the Better Toronto Space and surrounding Nice Golden Horseshoe areas, residence to a few of the priciest housing markets in Canada.

Extra Housing Market Findings:

• The biggest month-to-month declines in Ontario have been in Barrie (-36.8% SA) and Toronto (-28.5%). 
• Hamilton-Burlington noticed a $28,448 (-3.4%) lower, dropping costs from $841,996 to $813,548.
• Windsor-Essex had a $17,699 (-3.1%) decline, with costs falling from $568,747 to $551,048.
• Saskatoon noticed a $60,656 (16.9%) improve, rising from $358,899 to $419,555.
• St. John, New Brunswick, had probably the most value progress as residence costs rose by $99,490 (33.1%) year-over-year, climbing from $300,598 to $400,088.
• Better Vancouver had probably the most vital value drop for common residence costs month-over-month, declining $50,960 (-4.0%) from $1,278,513 to $1,227,553, with year-over-year gross sales falling by 11.9%.

Immigrants Fast to Be part of the Housing Market in Canada

Immigrants are an important section of Canada’s home-buying market. A Royal Lepage report confirmed newcomers purchase one in 5 properties in Canada. After arriving, in addition they purchase properties sooner than ever and are much more centered on residence shopping for than Canadian-born homebuyers.

Housing Costs in Canada and Affordability

Housing affordability varies in most Canadian actual property markets for homebuyers and renters. So, it’s good to analysis the housing market and residential costs in numerous areas earlier than deciding the place to settle. Inexpensive housing markets will help newcomers purchase properties inside their price range.

Canada lowered its everlasting resident goal from 500,000 to 395,000 in 2025, right down to 380,000 in 2026, and set a goal of 365,000 in 2027. Decrease targets purpose to ease strain on the housing market in Canada. With decrease residence costs (and rates of interest), it turns into simpler for newcomers to personal a house.

Canada Residence Costs and Market Developments

In February, British Columbia, Ontario, and Alberta continued to have the very best housing costs within the Canada housing marketplace for newcomers, whereas New Brunswick had the bottom.

Vancouver, British Columbia Housing Costs

The common value for all residential properties in Better Vancouver was $1,185,200 in February 2025. That’s up 0.91% from January 2025. In February, Better Vancouver residence gross sales have been 1,827, down 11.7% on a year-over-year foundation and 28.9% beneath the 10-year seasonal common for the month.

Calgary, Alberta Housing Costs

In February, the typical residence value in Calgary was $576,800, a 0.65% improve from the earlier month. Calgary residence gross sales in February fell 19.3% from final 12 months however remained above typical month-to-month gross sales as stock ranges grew considerably.

Edmonton, Alberta Housing Costs

Edmonton’s common residence value was $421,800, 2.33% increased than January 2024. Edmonton remains to be probably the most inexpensive amongst Canada’s 5 largest cities. In February, 1,825 residential properties have been bought (1,015 indifferent dwellings, 215 semi-detached homes, 305 residences, and 290 townhouses). 

Saskatoon, Saskatchewan Housing Costs

The common home value in Saskatoon in February was $405,400, up 0.50% in comparison with January 2025. Saskatchewan had 986 gross sales in February throughout the province, a modest 1% lower from February 2024.

Winnipeg, Manitoba Housing Costs

The common sale value in Winnipeg for February 2025 was $373,700. That’s 2.69% increased than January 2025. In February, 885 properties have been bought in Winnipeg, up 11% over February 2024.

Better Toronto Space (GTA) Housing Costs

The common residence bought value within the GTA in February was $1,073,900, up 0.36% from January. In February, 4,037 properties have been bought, down 27.4% in contrast with February 2024. Gross sales have been down 28.5% from January.

Ottawa, Ontario Housing Costs

The common residence sale value in Ottawa’s housing market elevated by 1.29% month-over-month to $685,300 in February 2025. The variety of properties bought totalled 809 models in February 2025. That’s a ten.2% decline from February 2024.

Halifax, Nova Scotia Housing Costs

Housing gross sales in Halifax elevated by 27.6% in February, rising from 210 transactions in January to 268 in February. The common listing value fell 4.3% from $672,396 to $643,687.

Brampton, Ontario Housing Costs

Brampton residence costs dropped 1.3% to $972,185 in February 2025. That’s down 1.3% or $13,136 from January 2025 and 5.9% or $61,488 in comparison with February 2024. Gross sales have been down 40.2%, and lively listings have been up 126% in comparison with February 2024.

Surrey, British Columbia Housing Costs

The Fraser Valley Actual Property Board, which incorporates Surrey, recorded 920 gross sales in February, up 13% from January however 26% beneath housing gross sales in February 2024. The common residence value in February in Surrey was about $1.1 million, up 9.3% from January.

Predictions for the Housing Market in Canada

“So long as this uncertainty persists,” stated Scotiabank’s Perrier, “we don’t count on a major restoration in housing resale exercise.” He added that if tariffs are carried out and so they “change into steeper than what we count on, then housing markets and costs will possible exhibit further weak spot within the coming months.”

Whereas gross sales have declined in historically costly markets like Better Toronto, Hamilton-Burlington, and Vancouver, this shift presents a novel alternative for consumers. That is very true for the rental market, which has seen elevated stock.

The February value decline and one other rate of interest drop from the Financial institution of Canada in mid-March created home-buying alternatives for newcomers within the Canadian housing market.

With much less competitors, falling costs, and rate of interest cuts, newcomers could also be in a stronger negotiating place. They could now be capable of purchase properties that may have been out of attain in a extra aggressive market.

Nonetheless, TD senior economist Leslie Preston stated that whereas rate of interest cuts ought to help extra housing gross sales, it would take greater than that to spur a market turnaround. “So long as the U.S. retains the specter of punitive tariffs alive, confidence within the housing market is more likely to be underneath a cloud.” 

Motion Steps for Newcomers Becoming a member of the Housing Market in Canada

With a lot financial uncertainty as a result of U.S./Canada commerce battle, sellers could also be anxious to promote, however consumers stay cautious. This will help decrease Canadian residence costs and is sweet information for newcomers getting into the housing market.

These motion steps will help you navigate the housing market in Canada and discover inexpensive housing choices:

• Monitor market efficiency and housing costs in Canada carefully, significantly the place you propose to settle.
• Look ahead to developments within the commerce battle, Financial institution of Canada rates of interest, and the short- and long-term results on residence costs, mortgage charges, and regional housing market circumstances.
• Know the way housing costs differ nationwide when deciding the place to settle in Canada.

WRITTEN BY

Steve Tustin

Senior Editor, Put together for Canada

Steve Tustin is the Editor for Leases for Newcomers and a contributing editor for Put together for Canada. He’s additionally the previous managing editor of Storeys.com and a former senior editor on the Globe and Mail and the Toronto Star.

© Put together for Canada 2025