TORONTO, April 16 (Reuters) - Canadian home sales edged lower in March from February and prices declined as global economic uncertainty and higher borrowing costs weighed on activity, data from the Canadian Real Estate Association showed on Thursday.
The data extended a slow start to the year for the housing market, which contributed to CREA downgrading its 2026 forecast.
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Home sales dipped 0.1% month-over-month in March.
Sales were down 2.3% on an annual basis, without seasonal adjustment.
The industry group's Home Price Index fell 0.4% on the month and was down 4.7% year-over-year.
Newly listed properties declined 0.2% month-over-month.
The sales-to-new listings ratio remained at 47.8%, which is below the long-term average.
“Home sales activity remained at lower levels in March, as rising global economic uncertainty, along with a mid-month jump in fixed mortgage rates tied to incoming higher inflation, piled on to an already shaky economic start to the year,” Shaun Cathcart, CREA's senior economist, said in a statement.
CREA forecast 474,972 residential properties would change hands in 2026, up 1% from 2025 but down from the 494,512 level it forecast in January.
Reporting by Fergal Smith; Editing by Nia Williams
