For many newcomers, buying a home in Canada is a dream that can help set roots and build equity. Researching the housing market and prices in Canada will help you decide which city to settle in, where to buy a home, and when to buy. The most recent housing market statistics from March 2025 reveal that the trade war creates uncertainty and affects housing sales and prices. Discover what’s changing in Canada’s housing market.
Immigrants are a vital segment of Canada’s home-buying market. A Royal Lepage report showed newcomers buy one in five homes in Canada. After arriving, they also buy homes faster than ever and are far more focused on home buying than Canadian-born homebuyers. Following housing prices and trends in Canada can help you find the most affordable cities.
An Overview of the National Housing Market
National sales in the Canadian housing market dropped 4.8% in March compared to February 2025. According to the latest statistics from the Canadian Real Estate Association (CREA), actual home sales were down year-over-year by 9.3% in March. It was also the slowest March for home sales since 2009.
Many Canadian real estate markets saw a decline in sales compared to March 2024, with the greatest downturn in Ontario and British Columbia. The Fraser Valley in British Columbia saw a 25.7% decrease in sales.
The Niagara Region in Ontario saw a 42.1% year-over-year drop in sales. London and St. Thomas were next with a 32.7% drop, and Hamilton-Burlington fell 19.2%. Even the usually active Greater Toronto Area, home to some of the priciest housing markets in Canada, saw a 23.6% decline in sales.
CREA also reported that the national average sale price of a home in Canada sold in March was $678,331, down 3.7% year-over-year. New listings were up by y3% month-over-month.
According to CREA’s latest forecast, the national average home price is now expected to decrease by 0.3% year-over-year to $687,898 in 2025, approximately $30,000 below January estimates.
Like in February, the more affordable Canadian housing markets saw the most notable growth in March. Edmonton was first among major Canadian cities with a 13.6% increase, signalling renewed interest in Alberta’s housing sector.