Housing Market Statistics | April 2019
Canadian home sales edge higher in March 2019
National Home Sales

Home sales via Canadian MLS® Systems edged up 0.9% in March 2019 following a sharp drop in February, leaving activity near some of the lowest levels recorded in the last six years.


Actual Activity

Actual (not seasonally adjusted) sales activity fell 4.6% y-o-y to the weakest level for the month since 2013. It was also almost 12% below the 10-year average for March. That said, in British Columbia, Alberta and Saskatchewan, sales were more than 20% below their 10-year average for the month. By contrast, activity is running well above-average in Quebec and New Brunswick.


“ It will be some time before policy measures announced in the recent Federal Budget designed to help firsttime homebuyers take effect. In the meantime, many prospective homebuyers remain sidelined by the mortgage stress-test to varying degrees depending on where they are looking to buy."
~ Jason Stephen, CREA President
Newly Listed Homes

The number of newly listed homes rose 2.1% in March. New supply rose in about two-thirds of all local markets, led by Winnipeg, Regina, Victoria and elsewhere on Vancouver Island. By contrast, new listings declined in the GTA, Ottawa and Halifax-Dartmouth.


MLS® Price Index

The Aggregate Composite MLS® Home Price Index (MLS® HPI) declined by 0.5% y-o-y in March 2019. It last posted a y-o-y decline of similar magnitude in September 2009.


National Average Sale Price

The actual (not seasonally adjusted) national average price for homes sold in March 2019 was $481,745, down 1.8% from the same month in 2018.


“ March results suggest local market trends are largely in a holding pattern. While the mortgage stress test has made access to home financing more challenging, the good news is that continuing job growth remains supportive for housing demand and should eventually translate into stronger home sales activity pending a reduction in household indebtedness. ”
~ Gregory Klump, CREA Chief Economist

The national average price is heavily skewed by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts close to $100,000 from the national average price, trimming it to just under $383,000.