Breaking: Canadian home sales slip again in February as prices keep falling

By Tahani Elghazaly
Published March 17, 2026

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Canada’s housing market weakened again in February, extending the slowdown seen at the start of the year and pointing to a softer-than-expected launch to the spring season. Data from the Canadian Real Estate Association showed national home sales fell 1.3% month over month, following a steeper 5.8% decline in January. Actual, non-seasonally adjusted sales were also down 8.1% compared with February 2025.

The slowdown was not limited to sales volumes. The MLS Home Price Index fell 0.6% from January and was down 4.8% from a year earlier, while new listings declined 3.9% on a monthly basis. National inventory held steady at five months, and the sales-to-new listings ratio stood at 47.6%, below its long-term average of 54.8%, suggesting market conditions remain quieter than usual across the country.

CREA said some improvement in activity began to emerge toward the end of February, although weakness remained especially pronounced in parts of Ontario. The national average actual sale price was C$663,828 in February, nearly unchanged from a year earlier with a slight 0.2% decline. That points to a market where the softness is visible not only in the number of transactions, but also in the direction of benchmark prices.