The number of home sales recorded over Canadian MLS® Systems declined 2.7% on a month -over-month basis in December 2025.

On an annual basis, transactions totalled 470,314 units in 2025, a decrease of 1.9% from 2024. The year was characterized by a tariff -induced flight of buyers back to the sidelines in the first quarter, followed by a decent sales rally mid -year, and a bit of a stall to finish off 2025.

“There doesn’t appear to have been much rhyme or reason to the month - over-month decline in home sales in December, which was simply the result of coincident but seemingly unrelated slowdowns in Vancouver, Calgary, Edmonton, and Montreal,” said Shaun Cathcart, CREA’s Senior Economist. “For that reason, it would be prudent for market observers to resist the temptation to trace a line from the end of 2025 into 2026. Rather, we continue to expect sales to move higher again as we get closer to the spring, rejoining the upward trend that was observed throughout the spring, summer, and early fall of last year.”

December Highlights:

• National home sales declined 2.7% month -over-month.
• Actual (not seasonally adjusted) monthly activity came in 4.5% below December 2024.
• The number of newly listed properties dropped 2% on a month -over-month basis .
• The MLS® Home Price Index (HPI) dipped 0.3% month-over-month and was down 4% on a year-over-year basis.
• The actual (not seasonally adjusted) national average sale price was virtually unchanged ( -0.1%) on a year-over-year basis.

https://www.crea.ca/media-hub/news/home-sales-in-canada-end-2025-quietly/