Wednesday, July 2, 2025

Canadian Home Sales on the Rise Despite High Interest Rates

High interest rates aren’t sending potential homebuyers to the sidelines.

Latest data from the Canadian Real Estate Association shows that national home sales were up 2.3% between January and February, largely led by transactions in the Greater Toronto and Greater Vancouver areas. However, sales were 40% lower compared to February 2022, and are rather now on par with the number of transactions seen for that month in 2018 and 2019.

Monthly home sales (CNW Group/Canadian Real Estate Association)

Meanwhile, the national average home price stood at $662,437, marking an 18.9% drop from the record set in February 2022; still, the average price was up over $50,000 from January, thanks to substantial gains in the GTA and the GVA. “The similarities between 2023 and the recovery year of 2019 continued to emerge in February, with sales up, the market tightening, and month-over-month price declines getting smaller,” said CREA economist Shaun Cathcart.

The number of newly listed homes fell 7.9% month-over-month in February, causing inventory to decline from 4.2 months in January to 4.1 months— an entire month below the long-run average. “Future sellers, many of whom will also be buyers, are likely biding their time until the optimum time to list and buy something else. For most, that’s in the spring. Will buyers jump off the fence to snap homes up in 2023 once they finally start to hit the market? They did in 2019,” added Cathcart.

Information for this briefing was found via the CREA. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Bank of Canada Pauses Rate Hikes

As was forecasted by economists, Bank of Canada Governor Tiff Macklem decided to keep the...

Wednesday, September 6, 2023, 10:01:21 AM

Federal Reserve Acknowledges Higher Inflation, But Maintains Bond Purchases, Keeps Rates Near Zero

The Federal Reserve remained committed to its current monetary policy initiatives, despite recognizing an acceleration...

Thursday, April 29, 2021, 10:42:00 AM

Bank Of Canada Unexpectedly Hikes Key Rate By Full Percentage Point

In a surprising turn of events, the Bank of Canada decided to raise its interest...

Wednesday, July 13, 2022, 11:44:00 AM

Bank of Canada Maintains Target Rate At 5.00% At April Meeting

The Bank of Canada has maintained its target for the overnight rate at 5%. Despite...

Wednesday, April 10, 2024, 09:55:25 AM

US Pending Home Sales Plummet By Most on Record

The US housing market is in trouble: despite new home sales doing better than expected,...

Friday, December 30, 2022, 11:21:00 AM