CREA Releases Updated 2025–2026 Canadian Housing Market Forecast

The Canadian Real Estate Association (CREA) just released its updated housing market forecast for 2025 and 2026, and it’s giving us a clearer sense of where things might be headed across the country.

After a few roller-coaster years in real estate, the message this time around is one of steady recovery — just a little slower than many expected.

📉 2025: A Slight Pause, Not a Step Back

Last year, CREA was predicting 2025 would be a full-on rebound year for the housing market. Lower interest rates and pent-up demand were expected to push national home sales above 500,000 and bring the average price back to around $700,000.

But early 2025 brought a few curve balls — renewed economic uncertainty, tariff disruptions, and cautious buyers — especially in Ontario and British Columbia. That slowed things down a bit.

The good news? By spring 2025, activity began to pick up again. Home sales have been climbing month after month since March, showing that the recovery is still happening — just on a slightly delayed timeline.Here’s what CREA now expects for 2025:

• Around 473,000 homes will sell across Canada — a 1.1% dip from 2024.

• The national average price will ease by 1.4% to about $676,700.

Those national numbers might sound like a cooling market, but it’s mostly due to slower sales in the country’s priciest regions. In fact, most other provinces are expected to see price gains of between 4% and 8% this year.

📈 2026: The Real Recovery Year

CREA’s forecast suggests 2026 will be the year things truly turn around. Home sales are expected to jump 7.7%, reaching over 509,000 transactions, and the average home price is predicted to rise 3.2% to nearly $700,000.

That means we could see the strongest national activity since 2021 — a sign that confidence is returning and the market is settling into a healthier rhythm.

🌊 What About Nova Scotia?

For us here in Nova Scotia, national trends often play out a little differently. Our market tends to be more affordable and less volatile than Ontario or BC, which means we’re not seeing the same price drops that those provinces are experiencing.

In fact, as high-priced markets cool, more buyers are continuing to look east — attracted by our coastal lifestyle, growing communities, and relative affordability.

So while 2025 may be a year of adjustment nationally, Nova Scotia’s real estate market remains steady, with moderate growth and ongoing demand for well-priced homes. If the national forecast holds true, 2026 could bring a fresh wave of activity and confidence here as well.

🗓️ What’s Next

CREA will update its forecast again on January 15, 2026, so we’ll see how these projections evolve. But for now, the takeaway is clear: after a few challenging years, the Canadian housing market appears to be stabilizing — and Nova Scotia is well-positioned to keep attracting buyers looking for balance and value.

Thinking about making a move in 2025 or 2026?
Now’s a great time to start planning. Whether you’re buying, selling, or just keeping an eye on the market, understanding these trends can help you make confident decisions.

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