National home sales fell 10.7 per cent in November, says CREA | CBC News

"National home sales fell 10.7 per cent in November compared with the same month last year, as the Canadian Real Estate Association says activity has veered into a holding pattern heading into 2026. The association said 33,895 properties changed hands across the country last month, as home sales also ticked 0.6 per cent lower from October on a seasonally adjusted basis. The actual national average sale price of a home sold in November was $682,219, down two per cent from a year earlier."

"CREA senior economist Shaun Cathcart said some sellers are making price concessions in order to get deals done before the end of 2025 following a mid-year rally. "That said, the Bank of Canada's clear signal that rates are now about as good as they're likely going to get is the green light many fixed-rate borrowers have no doubt been waiting for, so we remain of the view that activity will continue to pick up next year," he said in a press release."

"The central bank held its key rate at 2.25 per cent last week, with economists expecting it to remain unchanged for much of next year. Bank of Canada governor Tiff Macklem said the rate is at the level it should be to balance inflation and economic growth. That would halt a downward push that started in June 2024 to bring the key rate down from five per cent, including one percentage point worth of cuts this year."

National home sales fell 10.7 per cent year‑over‑year in November, with 33,895 properties changing hands and seasonally adjusted sales down 0.6 per cent from October. The actual national average sale price in November was $682,219, down two per cent year‑over‑year. CREA's home price index edged 0.4 per cent lower from October and was down 3.7 per cent year‑over‑year. Some sellers are making price concessions to close deals before the end of 2025 after a mid‑year rally. The Bank of Canada held its key rate at 2.25 per cent, which may encourage fixed‑rate borrowers, though some analysts note buyer constraints beyond interest rates.

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