By Sammy Hudes
The Canadian Real Estate Association has upgraded its forecast for home sales in 2025, saying it now expects a softer decline this year as activity continues to rebound.
It comes as the association says September home sales rose 5.2% from a year ago, marking the most activity for the month since 2021.
New listings dipped 0.8% in September from August and there were 199,772 properties listed for sale across Canada at the end of the month, up 7.5% from a year earlier.
In its outlook, CREA says it now expects a total of 473,093 residential properties to be sold in 2025 — a 1.1% decline from 2024, after projecting a three per cent drop in its July forecast.
The national average home price is forecast to fall 1.4% on an annual basis to $676,705 in 2025.
CREA senior economist Shaun Cathcart says that with three years of pent-up demand and “more normal interest rates finally here,” the association is forecasting further upward momentum in home sales over the final quarter of 2025.
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Last modified: October 16, 2025