In a real estate market as diverse as Canada’s, national averages hide more information than they reveal. CREA’s April data confirms what many Realtors on the ground already know: Canada’s housing performance depends entirely on where you are.

In Ontario and British Columbia, prices are softening, listings are rising, and buyers are treading carefully. But in Alberta, Quebec, and across much of Atlantic Canada, the picture looks very different. Prices are more stable, demand has sustained, and available inventory is tight.

This does not seem to be a temporary fluctuation. It’s the result of deep-running forces, which include household indebtedness, migration patterns, policy decisions, affordability gaps, and economic resilience. 

To understand where Canada’s housing market is heading, you need to stop looking at the average and start looking at the map.