Ontario Snowstorm Impacts January Housing Sales, Says Real Estate Association

The Canadian Real Estate Association (CREA) reported a 5.8% decline in national housing sales in January, attributing the slowdown to harsh winter weather, especially in central and southwestern Ontario. Senior economist Shaun Cathcart noted that while January’s figures were disappointing, they do not change the positive forecast for 2026. The average home price was $652,941, down 2.6% from last year, with affordability remaining a challenge for first-time buyers. CREA expects a modest price increase of 2.8% in 2026 despite regional declines in British Columbia, Alberta, and Ontario.