Canada Home Sales Fall 8.1% in February 2026

Canada's housing market remained subdued in February 2026, with national home sales declining 8.1 percent from the previous year and 1.3 percent from January on a seasonally adjusted basis, according to data released by the Canadian Real Estate Association.

The slowdown followed a quiet start to the year, though activity showed signs of accelerating toward the end of the month. Non-seasonally adjusted transactions also fell compared to February 2025, reflecting broader caution among buyers amid ongoing affordability challenges. The association noted that the number of newly listed properties dropped 3.9 percent from January, reversing a surge in supply from the prior month and resulting in a slightly higher sales-to-new-listings ratio of 47.6 percent, up from 46.4 percent.

The national average home price edged down 0.2 percent year over year to $663,828, while the MLS Home Price Index declined 0.6 percent month over month and 4.8 percent from the previous year. Inventory levels provided some balance, with 151,850 properties listed for sale across Canadian multiple listing service systems at the end of February. This figure represented a 3.7 percent increase from a year earlier...