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CREA reports January home sales fell as southern Ontario was hit by huge winter storm

On Feb. 18, 2026, the Canadian Real Estate Association said national home sales in January fell 16.2% year-over-year.
CREA attributed the weakness to a major mid‑January storm, with Shaun Cathcart, CREA senior economist, saying many `couldn't get to the end of their driveway for a week` in central and southwestern Ontario.
On a seasonally adjusted basis, sales dropped 2.8% from December while new listings increased 7.3%, with 140,680 properties listed, roughly 4.9 months of inventory.
The non‑seasonally adjusted national average price stood at $652,941 in January, down 2.6% from a year earlier, with CREA noting affordability remains a challenge.
Looking ahead, CREA projects a 2.8% HPI increase in 2026, with Cathcart saying `Unless we get another two-foot snowstorm in the most populated part of Canada, our forecast is for things to improve.

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