Canadian home sales fell 9.8% in February 2025

Canadian home sales dropped 9.8% from January to February 2025, the lowest level since November 2023. This decline follows the start of a trade war with the United States, causing uncertainty among buyers. New listings also fell by 12.7% month-over-month, reversing gains from January. The national sales-to-new listings ratio increased slightly to 49.9%, still below the long-term average of 55%. The National Composite Home Price Index decreased by 0.8% from January to February, marking the largest drop since December 2023. Price softening was particularly evident in Ontario's Greater Golden Horseshoe region.