National housing trends
Average Home Price
Ex. The national average home price slightly increased to $679,866 in April 2025, up from $678,331 in March. However, this represents a 3.9% decrease compared to April 2024.
Home sales
Ex. Seasonally adjusted home sales reached 35,834 transactions in April 2025, showing a 0.1% decline from March and a 7.5% decrease year-over-year.
Regional housing market highlights
Ex: Nova Scotia:
Average home price reached an all-time high of $477,925, a 2.0% increase year-over-year.
Alberta:
Average home price rose to $525,135, marking a 5.1% increase from April 2024.
Ontario:
Home sales declined by 20.2% year-over-year, indicating a significant slowdown in the market.
Mortgage Rate Trends
Bank of Canada Rate
Ex. As of April 16, 2025, the Bank of Canada maintained its overnight lending rate at 2.75%.
Mortgage rates
Ex. 5-Year Fixed: Currently at 3.91%.
5-Year Variable: Currently at 4.04%.
Prime Rate: Standing at 4.95%.
Price Forecast
Ex. Experts predict that the Bank of Canada may implement at least two more rate cuts by the end of 2025, potentially bringing the overnight rate down to 2.25%.
Economic Indicators
GDP Growth
Inflation
Housing Inventory
Ex. There were 183,000 properties listed for sale on all Canadian MLS® Systems at the end of April 2025, up 14.3% from a year earlier but still below the long-term average for that time of the year.
Board Reports & Indexes
Content for this page is dedicated to presenting detailed reports and indexes from reputable real estate boards and associations. Potential content could include board reports from relevant companies, housing market indexes, national statistics, and other authoritative information that reflects broader market trends and forecasts.
Sales Forecast:
CREA downgraded its 2025 forecast, now projecting 482,673 residential property sales, which is virtually unchanged from 2024 and 50,000 fewer than previously forecasted.
Average Price Forecast:
The average home price is expected to be $687,898 in 2025, approximately $30,000 less than earlier projections.
April 2025 Data
The index stood at 312.18, reflecting a 0.21% month-over-month decrease, indicating a slight decline in single-family home prices.
April 2025 Report:
Average Selling Price:
$1,107,463, down by 4.1% year-over-year.
MLS® Home Price Index Composite Benchmark: Decreased by 5.4% year-over-year.
April 2025 Highlights:
New Listings:
2,589 new residential properties added, a 3.8% decline compared to April 2024.
Active Listings:
Totaled 3,834 units, a 21.4% increase from April 2024, indicating a growing inventory.
2025 Outlook:
CMHC anticipates modest economic activity in 2025, with potential growth in 2026 and 2027. Foreign trade risks and immigration changes add significant uncertainty to the housing market outlook.