Overview
- CREA reported national sales fell 10.7% year over year in November and 0.6% from October, with an average sale price of $682,219 down 2% annually and the HPI down 3.7%, while listings reached about 173,000 for roughly 4.4 months of inventory.
- CREA’s Shaun Cathcart said sellers made price concessions in November to finalize transactions before year-end.
- The Bank of Canada kept its policy rate at 2.25% last week, and forecasts diverge on 2026 as some expect activity to grind higher while others warn that affordability strains and depleted savings could restrain buyers.
- Regional trends remain split, with prices declining in Greater Toronto and Greater Vancouver as several Quebec and Atlantic markets posted gains in the latest monthly data.
- Condominium conditions are strained by oversupply and weaker investor demand, with GTA condo values down 5.1% in 2025 (about $37,000), CMHC noting starts have fallen in most cities except Edmonton and Ottawa, and Re/Max projecting Halifax, Ottawa and Edmonton to lead a tentative condo recovery in 2026.