Market optimism faded in February as trade war fears and harsh weather slowed activity across major cities.
- Toronto: Home resales plunged 29%, hitting a new cycle low. Increased listings gave buyers leverage, pushing prices down 1.5% month-over-month.
- Montreal: Sales fell 11%, the steepest drop in four years. Prices remain up annually but may cool amid uncertainty.
- Vancouver: Resales dropped 15%, erasing recent gains. Condo prices slipped 2.8%, while detached homes rose 1.8%.
- Calgary: Sales declined 12%, with price growth slowing to 0.9% annually.
With trade uncertainty looming, buyers hold more power, and further price declines may follow.