Canada’s housing market recorded a slight increase in activity in April, but new supply continued to rise faster than demand, keeping conditions favourable for buyers in several parts of the country.
According to the Canadian Real Estate Association, national home sales increased by 0.7 percent from March to April. However, new listings rose by 4.1 percent during the same period, giving buyers more choice and adding pressure on sellers during the spring market.
The national benchmark home price slipped to $658,100 in April. That marked a small 0.1 percent decline from March and a 4.2 percent drop compared with the same month last year. The sales to new listings ratio also eased to 45.6 percent, down from 47.1 percent in March, placing the market near the lower edge of balanced conditions.
CREA considers a sales to new listings ratio between 45 and 65 percent to be balanced. Since the start of 2026, however, the national market has moved closer to buyer friendly territory, with slower sales activity and rising inventory changing the tone in many regions.
Ontario and British Columbia remain among the weakest markets. In the Greater Toronto Area, where condos make up a large part of the housing stock, the benchmark price fell 12.9 percent year over year in April. Hamilton Burlington dropped 12.7 percent, while Oakville Milton saw prices fall 20.4 percent.
Other regions are showing stronger momentum. Some Prairie markets, including Saskatoon and Regina, saw tighter supply and rising prices, while parts of Quebec and Atlantic Canada also posted gains in April. CREA senior economist Shaun Cathcart said the market showed modest improvement through the month, with a slower start followed by stronger momentum heading into May.
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