April 2026: Canadian Housing Market Sees Small Sales Gain as Supply Increases

Home sales recorded through Canadian MLS® Systems posted a modest gain in April 2026, rising 0.7% compared to March. While the increase was relatively small, it reflected uneven momentum during the month, with softer early activity followed by stronger late-month performance. At the same time, market conditions showed signs of gradual normalization, including a slight easing in time on market and prices beginning to stabilize after recent declines.

On the supply side, new listings increased more strongly, rising 4.1% month-over-month as the spring market got underway. This influx of listings outpaced sales growth, causing the national sales-to-new listings ratio to slip to 45.6%, down from 47.1% the previous month. Although this level still falls within a broadly balanced range, it suggests that buyers currently have more choice, even as overall demand remains somewhat cautious due to economic uncertainty and higher borrowing costs.

Price trends continued to show mild softening but with signs of stabilization. The national home price index edged down 0.1% month-over-month and was 4.2% lower than a year earlier, though this represents a smaller annual decline than earlier in the year. Meanwhile, the average sale price rose 2.2% year-over-year, and total inventory remained near long-term norms at about 5.2 months of supply. Together, these indicators point to a housing market that is neither strongly favoring buyers nor sellers, but gradually adjusting toward more balanced conditions.