CREA Says Canada's February Home Price Index Lower on The Month, Year

07:39 AM EDT, 03/17/2026 (MT Newswires) -- The Canadian Real Estate Association (CREA) on Tuesday released statistics on the country's home sales for February.

In summary: National home sales edged down 1.3% month-over-month; Actual (not seasonally adjusted) monthly activity came in 8.1% below February 2025; The number of newly listed properties declined by 3.9% on a month-over-month basis; The MLS Home Price Index (HPI) fell 0.6% month-over-month and was down 4.8% on a year-over-year basis; The actual (not seasonally adjusted) national average sale price was little changed (-0.2%) on a year-over-year basis in February 2026.

There were 151,850 properties listed for sale across all Canadian MLS Systems at the end of February, up 3.7% from a year earlier but 12.3% below the long-term average for that time of year, noted CREA in a statement.

There were five months of inventory on a national basis at the end of February, unchanged from January and right in line with the long-term average for the measure. However, the national average masks wide regional differences, with no province currently at that level and only a handful of local markets close to it. Based on one standard deviation above and below that long-term average, a seller's market would be below 3.6 months, and a buyer's market would be above 6.4 months.

The non-seasonally adjusted national average home price was $663,828 in February, almost unchanged (-0.2%) from the same month last year, added CREA.

"Housing market activity in February remained slow, particularly in the stretch of Ontario between Windsor and Toronto," said Valerie Paquin, CREA chair. "That said, the main event never really gets going until around April."

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