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The Canadian housing market showed modest improvement in April as the spring season unfolded, though conditions continued to favour buyers in many regions. Home sales edged slightly higher compared with March, while the number of newly listed properties increased at a faster pace, giving purchasers more choice and reducing competitive pressure. National home prices remained relatively stable month to month but were still lower than they were a year earlier, reflecting the slower pace of demand seen since the beginning of 2026.
Market conditions varied widely across the country. In several Ontario communities, particularly condo-focused areas around the Greater Toronto Area, home values recorded notable annual declines as inventory levels remained elevated. Meanwhile, Prairie cities such as Saskatoon and Regina experienced stronger price growth and tighter supply, highlighting the uneven nature of Canada’s real estate landscape. Some regions in Quebec and Atlantic Canada also posted gains, supported by steadier local demand and more balanced market conditions.
Industry observers say economic uncertainty and higher borrowing costs continue to weigh on buyer confidence, limiting the possibility of a major rebound this year. Still, activity in major centres including Toronto, Calgary and Edmonton improved in April, suggesting that some momentum may be returning after a slow start to the year. Analysts believe the market is gradually stabilizing, with stronger activity carrying into May even if overall recovery remains moderate.