Canadian Residential Property Transactions (December 2025): Real Estate Market Update
December Sees Continued Drop in National Home Sales
In December, the number of homes sold across the country declined for another consecutive month. Although new property listings also decreased, the drop in sales outpaced the reduction in listings, causing the sales-to-new listings ratio—a measure of how competitive the market is—to ease slightly. The national MLS Home Price Index (HPI) continued its downward movement, reflecting a softer housing market overall.
Seasonally adjusted figures show that national home sales slipped by 2.7% from November to December, following a 0.8% decrease the previous month. Compared to the recent high in November 2024, December’s sales were down 10.1%, and on a non-seasonally adjusted basis, they were 4.5% lower than the previous year.
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