Market update June 2025: Another quiet month for housing

It’s been another quiet month for both the home sales and rental markets, as tariff uncertainty and economic concerns continue to hold activity in check.

• According to Rentals.ca, the average national asking rent edged up 0.4% from March to $2,127 in April.

• March and April's rent growth likely reflects a seasonal rebound in demand after slower leasing activity in the winter.

• In April, purpose-built rentals saw a 0.9% month-over-month rent increase, reaching an average of $2,105. The biggest jump came from three-bedroom units, up 1.7% – likely due to growing interest in shared living as renters look for more affordable options.

• Meanwhile, the Canadian Real Estate Association (CREA) reports an average national home price of $679,866 in April – up 0.2% month over month and down 3.9% year over year.

• According to CREA, home sales were virtually flat between March and April 2025 (-0.1%), marking a near pause in the downward trend seen since the start of the year.

• Ontario continues to have among the highest average home prices in the country (second only to British Columbia) at $859,645 – unchanged from last month’s average.

• Sales-to-new-listings ratios remained steady across most provinces from March. Four remain in seller’s market territory (with sales outnumbering listings), three in balanced territory, and Ontario still stands alone as a firm buyer’s market.

• The Canada Mortgage and Housing Corporation (CMHC) reports the six-month trend in housing starts increased 2.4% in April to 240,905 units. Construction in Toronto fell 25% year-over-year, largely due to decreases in multi-unit starts.

More rental market headlines

What Ontario’s rising delinquencies mean for property managers – PayProp blog

Taking rental licensing pilot city-wide could cost $4.3 million – CTV News

Canadian rental market sees coming boom in vacancy rates – The Globe and Mail