Canadian Housing Demand and Prices Slide Further in March

On April 15, 2025, it was reported that home sales in Canada dropped again in March. Sales fell by 4.8% from February, and overall sales are now 20% lower than they were in November 2024. Experts believe this drop is mostly due to concerns about new tariffs and the uncertainty they bring. The biggest declines were seen in Ontario and British Columbia, but almost every region in Canada has been affected. People are becoming more cautious about buying homes, unsure of what will happen with the economy.

Compared to March 2024, home sales were down 9.3%, making it the lowest March total since 2009. Even though the number of newly listed homes went up by 3%, prices continued to fall. The MLS® Home Price Index dropped by 1% from the previous month and was 2.1% lower than a year ago. The actual average home price also dropped 3.7% compared to March last year, showing that the market is clearly slowing down.