The Canadian housing market experienced a quiet February. National home sales dropped 1.3 percent from January to February 2026. If you plan to buy or sell a home in Saint John this spring, these national trends provide a glimpse into the broader real estate landscape.

Sales and Listings Decline

Data from the Canadian Real Estate Association shows actual monthly activity fell 8.1 percent compared to February 2025. The number of newly listed properties also decreased by 3.9 percent month over month. This drop in new supply tightened the national sales to new listings ratio to 47.6 percent.

Prices Remain Flat

The national average home price sat at $663,828 in February. This represents a tiny 0.2 percent decrease from the same time last year. The MLS Home Price Index fell 0.6 percent month over month and dropped 4.8 percent year over year. While prices remain down in provinces like British Columbia and Ontario, other regions offset these declines.

Experts Point to Pent Up Demand

Many first time buyers remain on the sidelines. They wait for mortgage rates and home prices to hit rock bottom before making a move.

“February saw a continuation of the quieter levels of activity recorded in January, although there was some indication things were starting to pick up speed toward the end of the month,” said Shaun Cathcart, CREA Senior Economist. “2026 is still ultimately expected to be a story about pent up first time buyer demand finally seeing a chance to enter the market.”

Looking Ahead to Spring

Real estate activity ramps up as the weather warms. Buyers and sellers in Saint John will see a busier market in the coming months.

“Housing market activity in February remained slow, particularly in the stretch of Ontario between Windsor and Toronto,” said Valérie Paquin, CREA Chair. “That said, the main event never really gets going until around April, so there is still time to get ready to buy or sell this year.”

Frequently Asked Questions

What was the national average home price in February 2026?

The national average home price was $663,828 in February 2026.

Did home sales increase or decrease in February?

National home sales decreased by 1.3 percent month over month and 8.1 percent year over year.

Are there enough homes for sale on the market?

The market currently holds five months of inventory on a national basis. This aligns with the long term average and indicates balanced market conditions.