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 per cent from a year ago, marking the most activity for the month since 2021.
New listings dipped 0.8 per cent in September from August and there were 199,772 properties listed for sale across Canada at the end of the month, up 7.5 per cent 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 per cent 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 per cent 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.
This report by The Canadian Press was first published Oct. 16, 2025.
