Canadian Home Sales Inch Up in April Amid Stabilizing Prices

Event summary

  • Canadian home sales rose 0.7% month-over-month in April 2026, marking modest growth.
  • New listings surged 4.1% month-over-month, outpacing sales and easing the sales-to-new listings ratio to 45.6%.
  • The MLS® Home Price Index (HPI) declined 0.1% month-over-month but showed the smallest year-over-year drop (-4.2%) since October 2025.
  • National average home price increased 2.2% year-over-year to $695,412.
  • Inventory levels stood at 5.2 months, slightly above the long-term average.

The big picture

The Canadian real estate market showed signs of stabilization in April 2026, with modest sales growth and easing price declines. The influx of new listings suggests a balanced market, though global economic uncertainty and higher mortgage rates continue to temper expectations for a stronger rebound. The traditional spring market dynamics are in play, but broader economic factors will likely dictate the pace of recovery.

What we're watching

Market Stabilization
Whether the modest uptick in sales and price stabilization will sustain momentum amid global economic uncertainty.
Inventory Dynamics
The pace at which new listings continue to outpace sales and its impact on market balance.
Regional Disparities
How regional price trends, particularly in British Columbia, Alberta, and Ontario, will influence national averages.