US EditionFebruary home sales fell but CREA still hopeful for strong spring market
Canadian home sales fell 8.1% year-over-year and prices edged down to $663,828 amid high mortgage rates and harsh winter weather, CREA reported.
- On March 17, 2026, the Canadian Real Estate Association said Canadian home sales fell 8.1 per cent year-over-year in February and declined 1.3 per cent month-over-month on a seasonally adjusted basis.
- Steep fixed mortgage rates and relentless winter storms have worsened the market, while a 4 per cent fixed mortgage rate tightened affordability, CREA senior economist Shaun Cathcart said last month.
- Inventory figures reveal the MLS benchmark home price was $661,100 last month, with the MLS Home Price Index falling 0.6 per cent month-over-month, CREA reported.
- Younger Canadians are renting longer and shifting to affordable regions, while sellers made concessions during the frigid period as demand from first-time buyers is expected to boost 2026 sales, CREA senior economist Shaun Cathcart says.
- Bank of Canada will decide rates on Wednesday, and Robert Hogue, assistant chief economist at RBC, said home resales remain sluggish but may strengthen in the latter stages of 2026.
29 Articles
29 Articles
Residential sales continued to progress at a slow pace in February, but activity began to accelerate towards the end of the month, according to the Canadian Real Estate Association (CAI).
The Toronto Star
February home sales fell but CREA still hopeful for strong spring market
The Canadian Real Estate Association says home sales continued moving at a slow pace in February but activity started to pick up near the end of the month.
Home sales, listings and prices down nationally, says CREA
The latest real estate numbers are out and they paint a picture of a Canadian housing market on a downward slide. By most measures in Canada, real estate is down. According to the Canadian Real Estate Association (CREA), there are fewer sales and prices are declining in February from the previous month. “What we’ve seen so far is that home resales are still fairly sluggish,” said Robert Hogue, assistant chief economist at RBC. The MLS Home Price…
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