Canadian Home Sales Hit 15-Year March Low

CREA's Latest Forecast Explained

Read the latest Greater Vancouver specific market update here.

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After a short burst of early-year momentum, Canada’s housing market has hit the brakes.

March sales dropped to their lowest level for the month since 2009.

1. According to the Canadian Real Estate Association (CREA), the slowdown reflects growing buyer hesitancy amid economic uncertainty.
2. Concerns around interest rates, inflation, and global trade have many Canadians hitting pause on major financial decisions. While the year started with a spark of activity, that momentum has cooled significantly—especially in markets already struggling with affordability.

A revised forecast.

In light of the shift, CREA has officially revised its 2025 forecast.

1. They now expect 482,673 residential sales this year, roughly 50,000 less sales than previously forecasted. Sales are now on par with 2024, whereas earlier predictions expected an 8.6% increase year-over-year.
2. Average national home prices are also being scaled back. The new forecast? $687,898—about $30,000 lower than CREA’s initial projection. With more listings coming online and buyers stepping back, conditions are swinging back in favour of those on the house-hunting side of the equation.

March stats for the entirety of Canada paint a picture.

Updated numbers reflect a changing landscape.

1. Sales dropped 4.8% month-over-month and were down 9.3% compared to this time last year.
2. The MLS® Home Price Index slipped by 1% in March and sits 2.1% below where it was a year ago.
3. The national average sale price is down 3.7% year-over-year—evidence of a market that’s finding its footing after a volatile few years.

An economist's take.

CREA’s Senior Economist, Shaun Cathcart compared the current uncertainty to the unpredictability seen at the start of the pandemic.

• The market’s direction remains closely tied to signals from the Bank of Canada, with future interest rate decisions expected to play a major role in shaping buyer and seller behaviour over the months ahead.

Spring's evolution.

1. As we move further into spring, the market is offering more selection, more balance—and more questions.
2. Buyers have increased choice and stronger negotiating power, while sellers must stay sharp on pricing and presentation to stand out.
3. Things may have quieted down for now, but in a market like this, a shift can happen quickly. For those ready to act, there’s opportunity in the calm.

Click Here to read the full CREA update.

Further Resource Reuters Article

How can R3 Hayes Real Estate Group help you navigate the market?

We’re here to bring clarity and confidence when the market feels anything but predictable. Navigating change isn’t just about timing—it’s about having the right team by your side. Here’s how we help you stay ahead, no matter what the market throws your way:

60+ Years of Trusted Experience

1. As a multi-generational family business, we’ve weathered every type of market—from booming highs to cautious slowdowns.
2. We combine old-school work ethic with modern insight to ensure your move is smart, well-timed, and financially sound.

 Hyper-Local Knowledge

1. Based in Greater Vancouver, we know the communities inside and out—from street-by-street trends to school zones.
2. We help you understand what’s happening right now in your neighbourhood, so you can make fully informed decisions.

Customized Game Plans

1. Whether you're buying, selling, or both, we create a tailored strategy designed to fit your specific timeline, goals, and lifestyle.
2. In this kind of market, precision matters—and we’ve got the insight to guide your next step with purpose.

High-Impact Marketing

• Your home won’t just get listed—it will stand out. Our listings feature:

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2. Aerial drone footage
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4. Eye-catching custom feature sheets
5. Neighbourhood signage & physical advertising

All designed to create buzz and drive serious buyer attention.

Honest, Data-Driven Guidance

1. You’ll never feel in the dark. We keep you in the loop with market insights, weekly check-ins, and pricing updates backed by real-time stats—not guesses or gut feelings.

Bonus Extras that Make Life Easier

1. We offer complimentary moving supplies, help with local referrals (lawyers, inspectors, contractors, you name it), and staging consultations at no extra cost.

It's all part of making your transition as stress-free and successful as possible.

TOP 5 reasons to work with R3 Hayes Real Estate Group!

In a market full of noise and hesitation, we’re the steady hand you can trust.
Whether you're planning ahead or ready to make a move, let's talk strategy—we’re here to help you come out ahead.

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