Home sales nationwide in Canada rose 5.2% in September from a year earlier, according to the Canadian Real Estate Association (CREA).
This year marked the strongest September sales activity in Canada since 2021 when interest rates were near 0% during the Covid-19 pandemic, said CREA.
Owing to the strong September results, CREA has upgraded its forecast for home sales for all of this year, saying it now expects a softer decline than previously forecast as activity rebounds.
During September, new home listings fell 0.8% from August. However, there were 199,772 properties listed for sale across Canada at the end of the month, up 7.5% from a year earlier.
CREA said it now expects a total of 473,093 residential homes to be sold in 2025 — a 1.1% decline from 2024. But it previously forecast a 3% year-over-year decrease this year.
The average home price across Canada is forecast to fall 1.4% on an annual basis to $676,705 in 2025.
CREA attributed the gathering strength in Canada’s housing market to pent-up demand that’s continuing to unwind nationwide.
