The threat of U.S. tariffs is weighing heavily on Canada’s housing market. In February, home resales plunged nearly 10% nationwide—the biggest monthly drop in almost three years! With concerns about economic uncertainty, many buyers and sellers have hit pause.

Listings Drop, Prices Under Pressure
New listings fell 12.7%, reversing January’s gains. However, the number of active listings continues to rise, putting downward pressure on home prices. The MLS Home Price Index dipped 0.8% in February, with Ontario and B.C. seeing the biggest declines.

Ontario & B.C. Lead the Slowdown

• Toronto resales dropped 29%
• Hamilton: -20% | Niagara: -17% | Kitchener-Waterloo: -15%
• Vancouver: -13% | Fraser Valley: -14%

Bright Spots in the Market
Despite the slowdown, some regions are holding strong:

• Saskatchewan – Tight supply is pushing prices up.
• Alberta – Resales remain solid, though Calgary is cooling.
• Quebec & Atlantic Canada – Cities like Quebec City, Sherbrooke, and St. John’s still show momentum.

What’s Next?

With the U.S. trade war intensifying, uncertainty could stall the usually busy spring season. Will the market rebound, or are we in for a prolonged slowdown?