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\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\nUnlike what was observed in several other provinces, the resale market performed very well in Quebec last month. According to the latest statistics released by CREA, the number of sales recorded through various MLS\u00ae systems across the country in February 2025 fell by 10% nationwide, driven in particular by a sharp 27% drop in Ontario, as well as declines of 11% in Alberta and 10% in British Columbia. CREA attributes these results to the onset of a tariff war with the United States, which caused many buyers to hesitate.<\/p>\n
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Price drops were even observed in February in the two provinces where residential properties are the most expensive, with decreases of 3% and 2% in Ontario and British Columbia, respectively. Consequently, the national average price fell by 3%, to $668,097.<\/p>\n
February\u2019s results, however, reveal a clear contrast in Quebec. Centris sales rose by 11% last month, marking the fourteenth consecutive monthly gain. In terms of prices, there was an 8% year-over-year increase, with the average price of residential properties of all types reaching $544,401 last month. The last price drop in Quebec dates back to June 2023.<\/p>\n
Despite these strong results, it\u2019s fair to say that activity lost some momentum in February, as sales growth in the two previous months was around 28% (in January) and 51% (in December).<\/p>\n
Quebec consumers\u2019 confidence was also understandably shaken by the turmoil caused by the U.S. administration\u2019s imposition of tariffs. According to the Conference Board of Canada\u2019s confidence index, the proportion of Quebecers who believed it was a good time to make a major purchase such as a house or a car dropped from 19% in December 2024 to 14% in February 2025.[1]<\/strong><\/p>\n Given the current context, it would be rather surprising if sales continued to rise for much longer. However, let\u2019s not forget that interest rates are still on a downward trend. Spring will therefore remain an active season. One thing is certain: with a persistent shortage of properties for sale, market conditions still strongly favor sellers, and increased purchasing power due to lower financing costs, short-term price drops in the Quebec market are highly unlikely.<\/p>\n In Quebec, the only two metropolitan areas that experienced a decline in the number of transactions last month were Saguenay (-8%) and Trois-Rivi\u00e8res (-6%).<\/p>\n \t\t\t\t\t\t\t\t\t\t\t\t\t According to an analytical note from the Canadian Chamber of Commerce, which ranked Canadian cities most likely to be impacted by U.S. tariffs, Saguenay and Trois-Rivi\u00e8res topped the list in Quebec. The graph below shows the exposure of these two regions’ economies based on their exports to our southern neighbors. In particular, the Saguenay region accounts for about one-third of the country\u2019s aluminum production, and 85% of that is exported to the United States. In addition to Saguenay and Trois-Rivi\u00e8res, the Drummondville region\u2019s\u00a0[2]<\/strong> economy could also be significantly affected by the tariffs. Conversely, the regions of Quebec City and Ottawa-Gatineau appear to be the least vulnerable, given their relatively low share of exports to Uncle Donald\u2019s country.<\/p>\n If the trade war drags on, special attention should therefore be paid to the real estate markets in Saguenay, Trois-Rivi\u00e8res, and Drummondville.<\/p>\n [1] In Canada, these proportions stood at 14.4% and 12.7% in December 2024 and February 2025, respectively.<\/p>\n [2] CREA does not publish statistics for the Drummondville region. We\u2019ll have to wait for the QPAREB\u2019s quarterly data to get a better sense of the market there.<\/p>\n","protected":false},"excerpt":{"rendered":" Unlike what was observed in several other provinces, the resale market performed very well in Quebec last month. According to the latest statistics released by CREA, the number of sales recorded through various MLS\u00ae systems across the country in February 2025 fell by 10% nationwide, driven in particular by a sharp 27% drop in Ontario, […]<\/p>\n","protected":false},"author":11,"featured_media":30037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/equipegingras.ca\/en\/wp-json\/wp\/v2\/posts\/30039"}],"collection":[{"href":"https:\/\/equipegingras.ca\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/equipegingras.ca\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/equipegingras.ca\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/equipegingras.ca\/en\/wp-json\/wp\/v2\/comments?post=30039"}],"version-history":[{"count":0,"href":"https:\/\/equipegingras.ca\/en\/wp-json\/wp\/v2\/posts\/30039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/equipegingras.ca\/en\/wp-json\/wp\/v2\/media\/30037"}],"wp:attachment":[{"href":"https:\/\/equipegingras.ca\/en\/wp-json\/wp\/v2\/media?parent=30039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/equipegingras.ca\/en\/wp-json\/wp\/v2\/categories?post=30039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/equipegingras.ca\/en\/wp-json\/wp\/v2\/tags?post=30039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Saguenay and Trois-Rivi\u00e8res are the most vulnerable regions to tariffs<\/h2>\n
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