Canadian home sales in May 2025 saw a 4.3% annual decrease but a 3.6% monthly increase, marking the first monthly rise in over six months. The national average sale price was $691,299, down 1.8% year-over-year. The Canadian Real Estate Association attributes the monthly uptick to eased stress on buyer confidence, despite affordability challenges from mortgage rates.
Annual home sales down 4.3% in May, but activity up on monthly basis
CanadaCanadian Real Estate AssociationHome salesTariffsMortgage ratesHome selling
AI Summary
TL;DR: Key points with love ❤️Canadian home sales in May 2025 saw a 4.3% annual decrease but a 3.6% monthly increase, marking the first monthly rise in over six months. The national average sale price was $691,299, down 1.8% year-over-year. The Canadian Real Estate Association attributes the monthly uptick to eased stress on buyer confidence, despite affordability challenges from mortgage rates.
Trending- 1 Early 2025: Buyers sat on the sidelines due to tariff chaos and uncertainty.
- 2 May 2025: Home sales rose 3.6% month-over-month (first increase in over six months); annual sales down 4.3%; new listings rose 3.1% month-over-month; national average sale price $691,299 (down 1.8% year-over-year).
- 3 2025-06-16: CREA releases May sales data.
- Housing market remains subdued but not worsening
- Construction activity continues
- Affordability challenges persist due to mortgage rates
- Potential for delayed turnaround in housing activity
What: Canadian home sales data for May 2025 shows a year-over-year decline but a month-over-month increase.
When: May 2025 (data period); reported on 2025-06-16.
Where: Canada (national level).
Why: Buyers were on the sidelines for much of 2025 due to "tariff chaos and uncertainty," but a less aggressive tone on trade and political clarity eased buyer confidence. Mortgage rates are still high, impacting affordability.
How: Data collected and analyzed by the Canadian Real Estate Association (CREA).