Home sales in April decreased compared to the previous year, according to the Canadian Real Estate Association. The average sale price, however, saw an increase. In April, there were 42,927 home sales, representing a four percent decline from the 44,698 sales in April 2025. On a seasonally adjusted basis, home sales in April rose by 0.7 percent compared to March. CREA’s senior economist, Shaun Cathcart, mentioned that global economic uncertainties and higher mortgage rates have tempered the expected housing market rebound for the year. Despite a slight uptick in activity, sales still remained approximately 10 percent below typical April levels, as noted by BMO chief economist Douglas Porter. The national average sale price of a home in April was $695,412, showing a 2.2 percent year-over-year increase. Conversely, CREA’s home price index, reflecting typical home sales, decreased by 0.1 percent from March to April and was down 4.2 percent compared to the previous year. New listings in April increased by 4.1 percent month-over-month, signaling the beginning of the spring real estate market. At the end of April, there were 187,647 properties listed for sale in Canada, a 2.2 percent rise from the previous year but still 6.1 percent below the long-term average for that period. CREA revised its 2026 home sales forecast, now predicting only one percent growth compared to the initial forecast of 5.1 percent due to the impact of the oil price shock on mortgage rates. The national average home price is expected to rise by 1.5 percent annually to $688,955 in 2026, slightly lower than the January prediction. The gap between listing and selling prices narrowed in April, possibly indicating movement in the market. Porter highlighted that the Canadian housing market recovery expectations have been tempered due to consumer caution amid rising inflation. While some regions experienced price declines, others saw gains, resulting in varying levels of market activity. Toronto, for instance, witnessed a 6.3 percent drop in average home prices compared to last year and a 13 percent decrease from 2023 prices. Overall, the Canadian housing market continues to face subdued activity, reflecting regional disparities.