Montreal home sales rise in April, despite soft activity in other major cities

Montreal's housing market showed strength in April, with home sales rising 10.4% compared to the same month last year. The Quebec Professional Association of Real Estate Brokers reported 5,126 homes sold in the region, up from 4,645 in April 2024. This growth comes as other major Canadian cities experienced declines in home sales amid economic uncertainty.

The increase in sales was accompanied by a 12.1% rise in new listings, totaling 7,721 for the month. Active listings also saw a modest uptick of 2.3%. This suggests that more homeowners are entering the market, possibly encouraged by the steady demand in the Montreal area.

In contrast, cities like Toronto and Vancouver reported softer activity. Toronto-area home sales fell 23.3% in April, with buyers hesitant due to ongoing economic concerns. Similarly, Vancouver's market showed signs of cooling, reflecting a broader national trend of cautious consumer behavior.

Despite the national slowdown, Montreal's market appears resilient. Analysts attribute this to factors such as relatively affordable housing prices and a diverse economy that supports steady employment. These elements may be providing confidence to both buyers and sellers in the region.

The rise in Montreal's home sales indicates a localized strength that contrasts with the broader Canadian market. While other cities grapple with economic headwinds, Montreal's housing sector continues to attract activity, suggesting a unique set of conditions supporting its growth.

As the national housing landscape evolves, Montreal's performance in April highlights the importance of regional dynamics. Stakeholders will be watching closely to see if this momentum continues and what it might mean for the broader Canadian real estate market in the coming months.