As of June 2025, Canada’s real estate market shows initial signs of stabilization, with national home sales seeing their first monthly increase since late 2024, though still below historical averages. The market is nationally balanced, but regional variations persist, with Ontario favoring buyers while Quebec and Alberta lean towards sellers. Home prices are still declining, particularly in high-cost markets like Toronto and Vancouver, despite some support from Bank of Canada rate cuts being offset by ongoing economic uncertainty. 

Across major Canadian cities, Toronto’s GTA housing market experienced a gradual recovery in June, marked by increased listings and improved affordability, with sales slightly down year-over-year but a significant rise in new listings allowing buyers more negotiation power and leading to a 5.4% annual drop in average selling price. Vancouver also showed early signs of recovery, with sales improving from May’s sharp decline, and active listings at a multi-year high, contributing to a 2.8% year-over-year decrease in the composite benchmark price and creating favorable conditions for buyers due to lower mortgage rates. In contrast, Montreal’s real estate market remained robust, characterized by strong year-over-year sales growth, rising prices for single-family homes and condos, and low inventory, maintaining a competitive seller’s market heading into summer. 

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