Canada’s housing market stays ‘quiet’ in February as new listings decline

Home sales down 1.3% from JanuaryYou can save this article by registering for free here. Or sign-in if you have an account.Canada’s housing market remained subdued in February, with national home sales slipping 1.3 per cent month over month, while non-seasonally adjusted transactions were down 1.8 per cent from a year ago, according to the latest data from Canadian Real Estate Association (CREA).Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Compared to January, which had a surge of new listings, February was marked by a pullback in new supply. The number of newly listed properties fell 3.9 per cent month over month, nudging the national sales-to-new-listings ratio up slightly to 47.6 per cent from 46.4.Prices continued to edge lower in February with the national MLS Home Price Index falling 0.6 per cent compared to the previous month, down 4.8 per cent from a year earlier. However, the national average home price was largely unchanged, dipping 0.2 per cent year over year to $663,828.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.High-priced markets like Toronto and Vancouver had some of the steepest benchmark price declines at 7.9 per cent and 6.7 month-over-month, respectively. Sales in those markets also declined, falling 6.3 per cent in Toronto and 9.3 per cent in Vancouver.Sales activity in some Prairie and western markets, including Edmonton and Winnipeg, increased modestly, while Montreal’s remained flat.“February saw a continuation of the quieter levels of activity recorded in January, although there was some indication things were starting to pick up speed toward the end of the month,” said Shaun Cathcart, CREA’s senior economist. He added that buyers in Ontario and British Columbia may continue to wait for further price declines.• Email: shcampbell@postmedia.com Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.