Canadian Housing Market Update for December 2025

This document is a housing market report that outlines the performance of the Canadian housing market for December 2025. It details a continued decline in national housing sales, which fell by 2.7% from November to December, marking a 10.1% decrease from the peak in November 2024. The report highlights that new listings also saw a decline, although at a slower rate than sales, contributing to an easing of market conditions. The sales-to-new listings ratio decreased slightly, indicating a shift towards a more balanced market. The national MLS Home Price Index (HPI) continued its downward trend, reflecting a 0.3% decline from November and a 4% drop year-over-year. The report identifies specific local markets experiencing significant sales declines, including Lethbridge and Regina, while noting increases in sales in areas like Charlottetown and Thunder Bay. Overall, the document presents a comprehensive view of the housing market's challenges and trends as of the end of 2025.