Canadian Home Sales Rise While Prices Hold Steady in May
OTTAWA, Ontario, June 16, 2025 (GLOBE NEWSWIRE) -- The number of home sales recorded over Canadian MLS® Systems climbed 3.6% between April and May 2025, marking the first gain in activity since last November.
The monthly increase was led by the Greater Toronto Area (GTA), Calgary, and Ottawa.
“May 2025 not only saw home sales move higher at the national level for the first time in more than six months, but prices at the national level also stopped falling,” said Shaun Cathcart, CREA’s Senior Economist. “It’s only one month of data, and one car doesn’t make a parade, but there is a sense that maybe the expected turnaround in housing activity this year was just delayed for a few months by the initial tariff chaos and uncertainty.”
May Highlights:
- National home sales were up 3.6% month-over-month.
- Actual (not seasonally adjusted) monthly activity came in 4.3% below May 2024.
- The number of newly listed properties rose 3.1% on a month-over-month basis.
- The MLS® Home Price Index (HPI) was almost unchanged (-0.2%) month-over-month and was down 3.5% on a year-over-year basis.
- The actual (not seasonally adjusted) national average sale price was down 1.8% on a year-over-year basis.
New supply rose by 3.1% month-over-month in May. Given a similar increase in sales activity, the national sales-to-new listings ratio was 47%, almost unchanged from 46.8% in April. The long-term average for the national sales-to-new listings ratio is 54.9%, with readings between 45% and 65% generally consistent with balanced housing market conditions.
There were 201,880 properties listed for sale on all Canadian MLS® Systems at the end of May 2025, up 13.2% from a year earlier but remaining about 5% below the long-term average of around 211,500 listings for the month.
“May saw an increased number of new listings hitting the market early in the month, followed by a higher number of transactions in the second half of the month, so overall more sellers and buyers compared to April,” said Valérie Paquin, CREA Chair. “It seems like this may carry over into June as well. If you’re looking to buy or sell a property heading into the second half 2025, you’ll need to understand how national trends are or are not playing out locally, so contact a REALTOR® in your area today.”
There were 4.9 months of inventory on a national basis at the end of May 2025, near the long-term average of five months of inventory. Based on one standard deviation above and below that long-term average, a seller’s market would be below 3.6 months and a buyer’s market would be above 6.4 months.
The National Composite MLS® Home Price Index (HPI) was relatively unchanged (-0.2%) from April to May 2025. The pause follows on the heels of three straight month-over-month declines of closer to 1%. The non-seasonally adjusted National Composite MLS® HPI was down 3.5% compared to May 2024.
The non-seasonally adjusted national average home price was $691,299 in May 2025, down 1.8% from May 2024.
The next CREA statistics package will be published on Tuesday, July 15, 2025.
PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.
CREA cautions that average price information can be useful in establishing trends over time but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.
MLS® Systems are co-operative marketing systems used only by Canada’s real estate boards to ensure maximum exposure of properties listed for sale.
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations, representing more than 160,000 REALTORS® through 63 real estate boards and associations.
Further information can be found at http://CREA.ca/statistics.
For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@CREA.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b20140e1-f3a8-4ebc-b156-f2bf7e3c4221
Monthly home sales
May 2025 monthly home sales
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