Canadian Home Sales Rise While Prices Hold Steady in May

21-Jun-2025

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According to the Canadian Real Estate Association (CREA), the number of home sales recorded over Canadian MLS Systems climbed 3.6 per cent 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. New supply rose by 3.1 per cent month-over-month in May. Given a similar increase in sales activity, the national sales-to-new listings ratio was 47 per cent, almost unchanged from 46.8 per cent in April. 

The long-term average for the national sales-to-new listings ratio is 54.9 per cent, with readings between 45 per cent and 65 per cent 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 per cent from a year earlier but remaining about 5 per cent below the long-term average of around 211,500 listings for the month.