The Canadian Real Estate Association says home sales in January fell 16.2 per cent

02-Mar-2026

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The Canadian Real Estate Association says home sales in January fell 16.2 per cent compared with a year earlier as southern Ontario was hit by a massive winter storm.

The association said 22,533 residential properties changed hands across the country last month, as January sales were also down 5.8 per cent compared with December 2025 on a seasonally adjusted basis. 

CREA senior economist Shaun Cathcart said the drop was driven primarily by the Greater Golden Horseshoe and southwestern Ontario regions, suggesting the move was probably more about the storm than a downshift in demand.

“Notwithstanding the chilly start to the year, we continue to expect 2026 will ultimately be defined by pent-up demand from first-time buyers finally seeing a chance to enter the market,” he said in a press release.