Canada’s housing market stayed stalled in Mid-Q1, as buyers and sellers both pulled back, pressuring prices lower.
Resales ↓1.3% MoM; new listings ↓3.9% MoM, pushing the sales-to-new-listings ratio to 48% from 46%.
National MLS HPI ↓0.6% MoM and ↓4.8% yearly, extending a 15-mo decline; prices ~20% below early-2022 peak.
Inventory equaled ~5 mo of sales, a 6-yr high; wider choice stood out in Ontario and B.C.
Experts said renewals are this year’s key pivot, urging renewal readiness, cash-flow triage, and realistic pricing as buyers gain options.
I’m seeing Canada’s housing market stay sluggish, with buyers and sellers stepping back and prices easing. Inventory is giving shoppers more choice in some areas, while renewals are forcing tougher budgeting and pricing decisions.