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 says January sales were also down 5.8 per cent compared with December 2025, on a seasonally adjusted basis.
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CREA senior economist Shaun Cathcart says 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.
The drop in sales came as the number of newly listed properties rose 7.3 per cent on a month-over-month basis.
CREA says there were 140,680 properties listed for sale on all Canadian MLS systems at the end of January, up 4.5 per cent from a year earlier but 11.4 per cent below the long-term average for that time of year.
The national average sale price in January was $652,941, down 2.6 per cent from a year earlier.
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