Tariff turmoil means Canadas housing market is treading water at best – National [Video]

Home sales fell across Canada in March, with uncertainty around U.S. President Donald Trump’s tariffs causing prices and demand to plummet, the Canadian Real Estate Association (CREA) said Tuesday.

The sale of homes fell 9.3 per cent in March compared with this time last year.

Compared with last month, Canada recorded a drop of 4.8 per cent in home sales. National home sales are down 20 per cent compared with November 2024.

The national average home price in Canada was $678,331 in March 2025, down 3.7 per cent from March 2024.

CREA now has a revised, cooler forecast for the year ahead. It expects 482,673 homes to be sold this year, a decline of 0.2 per cent. This is a revision from its earlier forecast, which was an 8.6 per cent increase in the number of homes projected to be sold.

“Up until this point, declining home sales have mostly been about tariff uncertainty. Going forward, the Canadian housing space will …