{"id":351210,"date":"2025-12-16T01:54:12","date_gmt":"2025-12-16T01:54:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/351210\/"},"modified":"2025-12-16T01:54:12","modified_gmt":"2025-12-16T01:54:12","slug":"november-home-sales-down-11","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/351210\/","title":{"rendered":"November home sales down 11%"},"content":{"rendered":"

National home sales fell 10.7 per cent in November compared with the same month last year as the Canadian Real Estate Association<\/a> says activity has veered into a holding pattern heading into 2026.<\/p>\n

The association said 33,895 properties changed hands across the country last month, as home sales also ticked 0.6 per cent lower from October on a seasonally adjusted basis.<\/p>\n

The actual national average sale price of a home sold in November was $682,219, down two per cent from a year earlier.<\/p>\n

CREA senior economist Shaun Cathcart said some sellers are making price concessions in order to get deals done before the end of 2025 following a mid-year rally.<\/p>\n

\u201cThat said, the Bank of Canada\u2019s clear signal that rates are now about as good as they\u2019re likely going to get is the green light many fixed-rate borrowers have no doubt been waiting for, so we remain of the view that activity will continue to pick up next year,\u201d he said in a press release.<\/p>\n

The central bank held its key rate at 2.25 per cent last week, with economists expecting it to remain unchanged for much of next year. Bank of Canada governor Tiff Macklem said the rate is at the level it should be to balance inflation and economic growth.<\/p>\n

That would halt a downward push that started in June 2024 to bring the key rate down from five per cent, including one percentage point worth of cuts this year.<\/p>\n

CREA\u2019s home price index, which aims to represent the sale of typical homes, edged 0.4 per cent lower between October and November and was down 3.7 per cent on a year-over-year basis.<\/p>\n

But some real estate watchers are less convinced a turnaround is likely in the near-term.<\/p>\n

NerdWallet Canada spokesman Clay Jarvis said November\u2019s sales dip \u201cis proof that Canadian homebuyers are being held back by more than just interest rates.\u201d<\/p>\n

\u201cWrestling with inflation for the past two years has left Canadians exhausted and unsure. If their savings have been depleted, where are their down payments coming from?\u201d he said in a statement.<\/p>\n

\u201cIt\u2019s hard to see how 2026 will be markedly better than 2025 for home sales, especially if the cost of living is what\u2019s reining buyers in.\u201d<\/p>\n

Marco Pedri, a Toronto-based broker with Shoreline Realty, said he believes it could take until well into the new year for demand to rebound, as concerns persist around tariffs, the job market and the broader economy.<\/p>\n

\u201cAnd even then I think it won\u2019t be a huge drastic increase,\u201d he said in an interview.<\/p>\n

\u201cI think we\u2019re holding steady for the foreseeable future. I don\u2019t think anyone needs to get too worked up or too cautious that they\u2019re going to miss the boat or anything. I really don\u2019t see a pickup happening until late 2026, even maybe as far into 2027.\u201d<\/p>\n

For first-time homebuyers, Pedri said it\u2019s been even harder to find motivation to get off the sidelines.<\/p>\n

He said some had planned for years to make their move once prices finally came down, but still feel hesitant now that the market has levelled off.<\/p>\n

\u201cWith all these external pressures that are causing this slowdown, the psychological aspect of it is, \u2018Am I really making the right decision?\u201d\u2019<\/p>\n

TD economist Rishi Sondhi said home prices will likely continue to be weighed down by oversupply in B.C. and Ontario. Meanwhile, tighter markets should fuel stronger price gains elsewhere in the country.<\/p>\n

\u201cNovember was a soft month for resale housing, with Canadian sales and prices both down,\u201d he said in a note.<\/p>\n

\u201cHowever, November\u2019s sales dip was small, and sales have climbed for six of the past eight months. As such, we\u2019re not throwing in the towel yet on our view that Canadian sales will grind higher through next year, supported by pent-up demand in B.C. and Ontario, and some improvement in job markets in 2026.\u201d<\/p>\n

The association said new listings were down 1.6 per cent month-over-month.<\/p>\n

There were 173,000 properties listed for sale across Canada at the end of November, up 8.5 per cent from a year earlier but 2.5 per cent below the long-term average for that time of the year.<\/p>\n

This report by The Canadian Press was first published Dec. 15, 2025.<\/p>\n

Sammy Hudes, The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"National home sales fell 10.7 per cent in November compared with the same month last year as the…\n","protected":false},"author":2,"featured_media":351211,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,12514,101,1170],"class_list":{"0":"post-351210","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-construction","10":"tag-economy","11":"tag-real-estate"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/351210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=351210"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/351210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/351211"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=351210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=351210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=351210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}