A total of 167,524 properties were listed for sale on all Canadian MLS Systems at the end of March, up by only 1% from one year before, while new listings dipped by 0.2% on a month-over-month basis.
According to data from the Canadian Real Estate Association (CREA), national home sales during March were flat (-0.1%) month-over-month and down 2.3% year-over-year. The non-seasonally adjusted national average home price was $673,084 in March, dipping 0.8% one year earlier.
“While the interest rate situation has recently changed, what could be a challenge for a buyer looking for a fixed rate mortgage may also be seen as more choice and less competition for those choosing a variable rate,” said Garry Bhaura, CREA’s 2026-2027 chairman. “Spring tends to be a busier time of year for the housing market, even if it may not be quite as busy as we were expecting not so long ago.
CREA is forecasting 474,972 residential properties will trade hands via Canadian MLS Systems this year, an increase of 1% over 2025. In 2027, national home sales are forecast to climb a further 2.1% to 485,071 units. The national average home price is forecast to rise 1.5% on an annual basis to $688,955 in 2026 and to $695,094 in 2027.
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