Richard Maddox

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.

Sales activity recorded over Canadian MLS® 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.

“Up 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’ve gone from a slam dunk rebound year to treading water at best,” said Shaun Cathcart, CREA’s Senior Economist.

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.

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.

https://stats.crea.ca/en-CA/