New Listings Jump to Start 2025 as Tariff Uncertainty Weighs on Sales: Canadian Real Estate Association

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Canadian Multiple listing service Systems posted a double-digit jump in new supply in January 2025, when compared to December 2024, according to the Canadian Real Estate Association.

Sales activity fell off at the end of the month, likely reflecting uncertainty over the potential for a trade war with the United States. While sales were down 3.3 per cent on a month-over-month basis in January, this was primarily the result of sales trailing off in the last week of the month.

The number of newly listed homes increased by 11 per cent in comparison to the final month of 2024. Despite some swings seen during the COVID-19 pandemic, this was the largest seasonally adjusted monthly increase in new supply on record going back to the late 1980s, according to Canadian Real Estate Association.

There were close to 136,000 properties listed for sale on all Canadian Multiple listing service Systems at the end of January 2025, which was up 12.7 per cent from a year earlier but still below the long-term average for that time of the year of around 160,000 listings.

There were 4.2 months of inventory on a national basis at the end of January, up from readings in the high threes in October, November, and December. The long-term average is five months of inventory.

Canadian Real Estate Association noted that 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 6.5 months.