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.

https://stats.crea.ca/en-CA/