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Canada's Housing Price Index Drops 0.1% in January 2025

According to Statistics Canada, the national new housing price index fell by 0.1% in January 2025. This decline follows a similar decrease reported in December 2024. Among 27 surveyed census metropolitan areas (CMAs), housing prices remained stable in 15 areas.

Nine CMAs reported an increase in new housing prices, while three experienced decreases. Of particular note is Toronto, which saw a 0.4% reduction in prices, contributing significantly to the overall national decline as it represents a substantial portion of the index weight.

The variations in price across different CMAs highlight the diverse market dynamics within Canada's housing sector.

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