Canadian real estate is showing recovery signs, with November sales up 2.8% and the first price increase in 18 months, but will it last? Winter activity has increased due to lower rates and mortgage reforms, though the recovery remains vulnerable to economic uncertainties.

• Sales-to-new-listings ratio rose to 59.2% in November, with inventory dropping to 3.7 months, indicating a tightening market favorable to sellers⁠⁠​
• Ontario and British Columbia saw significant price drops since 2022 peak (-20% and -11% respectively), while Atlantic provinces showed strong growth⁠⁠​
• Spring market performance will be crucial, with potential headwinds including economic downturn fears, slower population growth, and job losses⁠⁠​