THE RECORD

CANADA/US TRADE WAR

Every tariff date since November 2024, and what the Toronto area housing market did in the same month. 29 dated actions, each one linked to the order, proclamation or fact sheet it came from.
This is a record, not a claim.
I am not telling you the tariffs caused any number on this page. I spent a month trying to measure that, and the honest answer is that the record cannot separate the tariffs from the rate cuts, the immigration cut and the mortgage rule change, which all landed in the same months. So here are the dates and the figures, side by side, and you can check both.
Housing figures are TRREB's Market Watch for Toronto, Peel, York, Durham and Halton, all home types.
Sold per 100 listed is the single month here, because a three-month count would smear June and July across an August tariff date. My reels and the market page quote the three-month reading, which runs a point or two lower, so both sit on every month and neither is hidden.
The price figure is an average across the five regions, so it moves with the mix of what happened to sell. That is why it leads with the change on the year rather than the level.
TRREB data through August 2026. Dates and sources verified September 13, 2026.

September 2026

TRREB has not published this month yet. The Market Watch edition lands around the 3rd to the 6th.
September 8, 2026
Canada
EFFECTIVE
Canadian counter-tariffs in force
Source: Blakes

August 2026

4,851
HOMES SOLD
3.1% lower than a year earlier
11,511
NEW LISTINGS
42
SOLD PER 100, SINGLE MONTH
37 a year earlier, 41 on the three-month count
$1,001K
AVERAGE PRICE
2.6% lower than a year earlier
August 19, 2026
United States
PAUSE
Three-day delay; a broader deal said to be close
Source: White & Case
August 22, 2026
United States
EFFECTIVE
50 percent tariffs in force after talks end
Source: Blakes
August 25, 2026
Canada
ANNOUNCEMENT
15 to 50 percent on about C$27.6B of US goods announced
Source: Wikipedia

July 2026

5,765
HOMES SOLD
1.8% lower than a year earlier
13,841
NEW LISTINGS
42
SOLD PER 100, SINGLE MONTH
35 a year earlier, 39 on the three-month count
$1,012K
AVERAGE PRICE
4.2% lower than a year earlier
July 1, 2026
Both
REVIEW
Free trade agreement six-year review; US declines to extend
Source: Blakes
July 20, 2026
United States
ANNOUNCEMENT
NOT EXPECTED THAT DAY
Section 338 invoked: 50 percent on about US$20B of Canadian goods including agreement-compliant goods, effective August 19, 2026
Source: White House
June 2026
NO TARIFF ACTION
6,533 sold, 39 per 100 listed, $1,066K average
May 2026
NO TARIFF ACTION
6,286 sold, 37 per 100 listed, $1,080K average

April 2026

5,703
HOMES SOLD
5.6% higher than a year earlier
16,357
NEW LISTINGS
35
SOLD PER 100, SINGLE MONTH
30 a year earlier, 35 on the three-month count
$1,062K
AVERAGE PRICE
4.8% lower than a year earlier
April 6, 2026
United States
EFFECTIVE
10 to 50 percent on steel, aluminum and copper articles on full value
Source: Blakes
March 2026
NO TARIFF ACTION
4,872 sold, 35 per 100 listed, $1,025K average

February 2026

3,731
HOMES SOLD
3.8% lower than a year earlier
10,247
NEW LISTINGS
36
SOLD PER 100, SINGLE MONTH
33 a year earlier, 40 on the three-month count
$1,017K
AVERAGE PRICE
6.9% lower than a year earlier
February 20, 2026
United States
RELIEF
NOT EXPECTED THAT DAY
Supreme Court strikes down the emergency-powers tariffs
Source: Blakes
February 24, 2026
United States
EFFECTIVE
Temporary 10 percent tariff on all imports under section 122
Source: Blakes
January 2026
NO TARIFF ACTION
2,975 sold, 29 per 100 listed, $977K average

December 2025

3,547
HOMES SOLD
10.2% higher than a year earlier
5,067
NEW LISTINGS
70
SOLD PER 100, SINGLE MONTH
72 a year earlier, 46 on the three-month count
$1,015K
AVERAGE PRICE
5.3% lower than a year earlier
December 26, 2025
Canada
EFFECTIVE
25 percent on steel-derivative products; steel quotas reduced
Source: Blakes
November 2025
NO TARIFF ACTION
4,813 sold, 45 per 100 listed, $1,045K average

October 2025

5,907
HOMES SOLD
8.0% lower than a year earlier
15,372
NEW LISTINGS
38
SOLD PER 100, SINGLE MONTH
44 a year earlier, 35 on the three-month count
$1,061K
AVERAGE PRICE
7.1% lower than a year earlier
October 14, 2025
United States
EFFECTIVE
10 percent on softwood lumber plus duties; 25 percent on upholstered furniture, cabinets, vanities
Source: Blakes

September 2025

5,383
HOMES SOLD
12.2% higher than a year earlier
18,451
NEW LISTINGS
29
SOLD PER 100, SINGLE MONTH
28 a year earlier, 33 on the three-month count
$1,066K
AVERAGE PRICE
4.5% lower than a year earlier
September 1, 2025
Canada
REMOVAL
Counter-tariffs dropped on most goods; 313 tariff lines remain
Source: Blakes

August 2025

5,004
HOMES SOLD
4.8% higher than a year earlier
13,386
NEW LISTINGS
37
SOLD PER 100, SINGLE MONTH
40 a year earlier, 34 on the three-month count
$1,028K
AVERAGE PRICE
5.0% lower than a year earlier
August 1, 2025
United States
EFFECTIVE
35 percent in force; 50 percent on copper
Source: Blakes

July 2025

5,873
HOMES SOLD
13.3% higher than a year earlier
16,811
NEW LISTINGS
35
SOLD PER 100, SINGLE MONTH
33 a year earlier, 32 on the three-month count
$1,056K
AVERAGE PRICE
5.2% lower than a year earlier
July 11, 2025
United States
ANNOUNCEMENT
NOT EXPECTED THAT DAY
35 percent on Canadian goods announced, effective August 1, 2025
Source: Wikipedia

June 2025

6,029
HOMES SOLD
0.9% higher than a year earlier
18,997
NEW LISTINGS
32
SOLD PER 100, SINGLE MONTH
35 a year earlier, 30 on the three-month count
$1,108K
AVERAGE PRICE
5.4% lower than a year earlier
June 4, 2025
United States
EFFECTIVE
Steel and aluminum raised to 50 percent
Source: Blakes

May 2025

6,004
HOMES SOLD
11.3% lower than a year earlier
20,880
NEW LISTINGS
29
SOLD PER 100, SINGLE MONTH
38 a year earlier, 29 on the three-month count
$1,129K
AVERAGE PRICE
3.8% lower than a year earlier
May 3, 2025
United States
EFFECTIVE
25 percent on auto parts; compliant parts duty-free
Source: Blakes

April 2025

5,403
HOMES SOLD
20.9% lower than a year earlier
18,126
NEW LISTINGS
30
SOLD PER 100, SINGLE MONTH
42 a year earlier, 30 on the three-month count
$1,115K
AVERAGE PRICE
4.3% lower than a year earlier
April 2, 2025
United States
ANNOUNCEMENT
Baseline 10 percent reciprocal tariffs; agreement-compliant Canadian goods exempt
Source: Blakes
April 3, 2025
United States
EFFECTIVE
Auto tariffs in force
Source: Blakes
April 9, 2025
Canada
EFFECTIVE
25 percent on non-compliant US autos
Source: Blakes

March 2025

4,818
HOMES SOLD
23.5% lower than a year earlier
16,538
NEW LISTINGS
29
SOLD PER 100, SINGLE MONTH
50 a year earlier, 31 on the three-month count
$1,101K
AVERAGE PRICE
2.5% lower than a year earlier
March 4, 2025
Both
EFFECTIVE
US tariffs on Canadian goods in force; Canada's first C$30B counter-tariffs in force
Source: Blakes
March 7, 2025
United States
EXEMPTION
Goods compliant with the free trade agreement exempted; Canada delays phase 2
Source: Blakes
March 12, 2025
United States
EFFECTIVE
25 percent on steel and aluminum, all countries
Source: Blakes
March 13, 2025
Canada
EFFECTIVE
25 percent on C$29.8B more US goods (steel, aluminum, other)
Source: Blakes
March 27, 2025
United States
ANNOUNCEMENT
NOT EXPECTED THAT DAY
25 percent on autos and parts announced, effective April 3, 2025
Source: Wikipedia

February 2025

3,878
HOMES SOLD
28.0% lower than a year earlier
11,625
NEW LISTINGS
33
SOLD PER 100, SINGLE MONTH
49 a year earlier, 39 on the three-month count
$1,092K
AVERAGE PRICE
2.2% lower than a year earlier
February 1, 2025
Both
ANNOUNCEMENT
NOT EXPECTED THAT DAY
US order signed: 25 percent on Canadian goods, 10 percent on energy, effective Feb 4. Canada announces 25 percent on C$30B of US goods
Source: Blakes
February 3, 2025
Both
PAUSE
NOT EXPECTED THAT DAY
US pauses 30 days; Canada repeals its surtax order
Source: Blakes
February 10, 2025
United States
ANNOUNCEMENT
25 percent on steel and aluminum from all countries, effective March 12, 2025
Source: Wikipedia

January 2025

3,684
HOMES SOLD
9.5% lower than a year earlier
11,895
NEW LISTINGS
31
SOLD PER 100, SINGLE MONTH
51 a year earlier, 46 on the three-month count
$1,043K
AVERAGE PRICE
1.0% higher than a year earlier
January 20, 2025
United States
ANNOUNCEMENT
America First Trade Policy memorandum; studies due April 1, 2025
Source: Blakes
December 2024
NO TARIFF ACTION
3,220 sold, 72 per 100 listed, $1,072K average

November 2024

5,651
HOMES SOLD
37.9% higher than a year earlier
11,126
NEW LISTINGS
51
SOLD PER 100, SINGLE MONTH
41 a year earlier, 39 on the three-month count
$1,115K
AVERAGE PRICE
2.5% higher than a year earlier
November 25, 2024
United States
ANNOUNCEMENT
NOT EXPECTED THAT DAY
President-elect announces 25 percent tariff on all Canadian and Mexican goods on day one
On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States.
Truth Social, November 25, 2024
Dates and sources are from my own verified record of the trade war, checked against the order, proclamation or fact sheet in every case. Housing figures are TRREB's published Market Watch.
The work behind the line that this record cannot separate the tariffs from everything else is written up in full, including every objection raised against it.
I sell houses. A calm read of the market helps me. I am telling you anyway.