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Written by Yousaf Iqbal, Head of IQI Canada  In November 2025, Canada’s housing market showed early signs of renewed momentum as national home sales rose and prices began to stabilise. The national average home sale price reached about C$690,195, up modestly month-over-month and down only around 1.1% compared with last year — narrowing the year-over-year drop. With sales climbing and listings somewhat pressured, the supply-to-demand balance remained within historically “normal” bounds. Interest rates set by the Bank of Canada at 2.25% have kept borrowing costs moderate, creating a modest boost to affordability — though many markets remain expensive for first-time buyers.  Toronto (GTA)  In November 2025, GTA home sales dropped 15.8% year-over-year to 5,010 transactions, with new listings down 4% to 11,134, as many buyers stayed cautious amid economic uncertainty. Prices continued to ease: the MLS® HPI Composite fell 5.8% annually, and the average selling price declined 6.4% to $1,039,458. On a seasonally adjusted basis, both sales and listings edged slightly lower from October, while prices held mostly steady. With borrowing costs lower and improving job data, confidence is expected to gradually build heading into 2026.  Vancouver In November 2025, Metro Vancouver home sales dropped 15.4% year-over-year to 1,846, while active listings climbed 14.4% to 15,149, keeping conditions firmly in buyers’ territory. New listings edged down 1.4% to 3,674, though overall inventory remained well above long-term averages. The MLS® HPI benchmark fell 3.9% annually to $1,123,700, with detached, attached, and apartment prices all softening slightly from last year. Ample supply, slower sales, and steady borrowing costs continued to shape a quiet, buyer-friendly market heading into year-end.  Quebec (province-wide)  In November 2025, home sales remained stable at around 16,000 transactions, with activity holding near last year’s levels despite regional differences. Inventory increased modestly, driven mainly by rising listings in major centres like Montréal. Median prices continued to trend upward province-wide: single-family homes rose to roughly C$635,000, condos held near C$425,000, and plex prices climbed to about C$855,000, supported by strong demand for multi-unit properties. Overall, the market stayed balanced, with supply improving and prices remaining resilient heading into year-end.  Discover more here:Download Now!

Written by Yousaf Iqbal, Head of IQI Canada Canada  Canada’s Housing Market in September 2025: Signs of Stability Amid Affordability Pressures  In September 2025, Canada’s housing market showed signs of cautious stabilization. National average home prices edged up slightly by 0.2% to C$674,000, though they remained 1.8% lower than the previous year. Sales rose 3.1% month-over-month, buoyed by interest rate cuts and an increase in listings. Yet, affordability continues to be a challenge, with mortgage costs still 35% higher than in 2019. On the rental side, prices declined for the third consecutive month, thanks to an uptick in housing completions, offering modest relief to tenants. While the market is showing early signs of recovery, it remains sensitive to affordability constraints.  At the city level, Toronto (GTA) saw a 2.3% rise in home sales and a 9.4% increase in listings in August 2025, expanding supply and making the market more competitive. Prices, however, fell by 5.2% to an average of $1.02 million, as affordability pressures persisted. In Greater Vancouver, September sales were up 1.2% year-on-year, but the sales-to-active listings ratio of 11.3% signalled mild downward price pressure. Meanwhile, Quebec stood out with a 12% year-on-year surge in transactions—the strongest September since 2020—driven by an 18% rise in listings and stable inventory. Prices climbed across all property types, underscoring strong seller conditions in the province.  Source by FSMI  Discover more country insights here!Download

written by YOUSAF IQBAL, Head of IQI Canada Canada’s housing market remained steady yet subdued in August 2025. The national average home price edged up to C$672,800, but experts still anticipate a 2% annual decline. Affordability remains a major challenge, with recovery to pre-pandemic levels not expected for at least two years, even amid interest rate cuts. A growing housing supply is easing pressure on prices, encouraging cautious re-entry from first-time buyers. Meanwhile, rental growth has softened due to reduced immigration, contributing to a more balanced but affordability-constrained environment for both buyers and investors.  Regionally, market dynamics vary. In the Greater Toronto Area (GTA), sales rose by 2.3% and listings increased 9.4%, while average prices dropped 5.2% to $1.02 million—creating a more competitive landscape. Metro Vancouver saw a 2.9% increase in sales and a 17.6% surge in listings, but benchmark prices fell 3.8% year-on-year to $1.15 million. Detached and townhouse segments saw improvement, while apartment demand lagged. In contrast, Quebec had its busiest August since 2020, with a 10% rise in transactions and strong price growth across all property types, reinforcing its status as a seller’s market.  Source by FSMI  For more countries updateDownload Now!

Canada’s property market is entering steadier waters, with June home sales up 2.8 per cent month-on-month and 3.5 per cent year-on-year. The national sales-to-new-listings ratio now sits at a balanced 50 per cent, signalling healthier market conditions. Toronto recorded its strongest July sales since 2021, rising 10.9 per cent compared to last year, supported by lower borrowing costs and improved affordability. Quebec City and Montreal also stood out with double-digit annual sales growth, highlighting strong regional demand. Prices remain under pressure in Ontario and British Columbia, yet national averages have largely stabilised. Elevated inventories suggest buyers have stronger negotiating power, pointing to a more balanced outlook heading into the second half of 2025. Explore the full analysis and market updates from other countries here!Download