The Canadian housing market is showing clear signs of recovery this spring season, with national home sales increasing by an impressive 12% compared to the same period last year. Major metropolitan areas like Toronto and Vancouver are leading this positive rebound as mortgage rates finally stabilize after months of uncertainty.
According to the latest data from the Canadian Real Estate Association, national home sales have now risen for the third consecutive month in March 2026. The current average home price across Canada sits at approximately $685,000, representing a 4.2% increase from February levels, though prices remain about 8% below the peak levels observed in early 2024.
“We’re genuinely seeing renewed confidence among prospective buyers,” stated Shaun Cathcart, CREA’s senior economist. “The recent rate pause from the Bank of Canada has finally given people the financial certainty they needed to re-enter the market with confidence.”
First-time home buyers are returning to the market in significant numbers, particularly within the condominium segment. The Toronto market experienced condo sales jumping 18% year-over-year, while Vancouver saw a notable 15% increase in the same category.
Source: CTV News
Photo: CTV News
