Canadian home sales edged up 0.7% in April from March, according to data from the Canadian Real Estate Association (CREA).
On an annual basis, sales were down 4% without seasonal adjustment. The Home Price Index fell 0.1% month-over-month and 4.2% year-over-year.
New listings rose 4.1% month-over-month, while the sales-to-new listings ratio dropped to 45.6% from 47.1% in March, moving further below the long-term average.
"While home sales were up only modestly from March to April, the small increase reflected a slow start to the month with a stronger handoff into May, alongside falling days on market and stabilizing prices," said Shaun Cathcart, CREA's senior economist.
"This latest bout of global economic uncertainty and higher mortgage rates means the previously expected rebound in housing markets this year will continue to be muted, but it does not mean there will be no upward momentum at all," Cathcart added.
A slow start to the year led CREA to downgrade its 2026 home sales forecast last month.
