March home sales data will reveal whether spring brings relief or more caution to Canada's strained housing market

March home sales data will serve as an early read on whether the spring market sees a typical seasonal lift or sustained buyer caution. Sales declined both monthly and annually in February 2026, indicating ongoing weakness in buyer demand. The Canadian Real Estate Association is set to publish March home sales figures on April 16, 2026. CREA noted that sales were "starting to pick up speed" toward the end of February, suggesting potential momentum entering the spring market. Affordability pressures and economic uncertainty continue to restrain broader housing activity. BMO expects pent-up demand and a backlog of listings could enter the market in spring 2026. The balance between supply and demand in the spring of 2026 will determine whether market conditions tighten or remain balanced. A lack of seasonal rebound in March 2026 would signal that affordability challenges are outweighing traditional spring demand patterns.