Canadian home sales see first monthly increase since late 2024

Sales activity picks up

For the first time since November 2024, home sales are rising. Nationally, activity rose by 3.6% from April to May 2025. The biggest boosts came from the Greater Toronto Area, Calgary and Ottawa, which helped drive the national numbers upward.

“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, in the report. “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.”

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