Canadian Home Sales Edge Up in June as Market Stabilizes
Event summary
- National home sales rose 0.5% month-over-month in June 2026, following a 5.5% jump in May and 0.9% increase in April.
- New listings declined 1.3% on a month-over-month basis, marking the second straight decline.
- The MLS® Home Price Index (HPI) was unchanged month-over-month but down 3.6% year-over-year.
- The national average home price increased 0.5% year-over-year to $696,078 in June 2026.
The big picture
Canadian home sales continue to show momentum as the market stabilizes following a slow start to the year. The easing of fixed mortgage rates and stabilization of home prices are likely driving increased buyer activity. This trend aligns with similar patterns observed in 2024 and 2025, suggesting a more active second half of the year. The national sales-to-new listings ratio returning above 50% for the first time this year indicates a shift towards more balanced market conditions.
What we're watching
- Interest Rate Impact
- How easing fixed mortgage rates will affect buyer demand and market activity in the second half of 2026.
- Inventory Dynamics
- Whether the decline in new listings will tighten market conditions further, potentially shifting towards a sellers' market.
- Regional Price Trends
- The pace at which regional price declines stabilize or reverse, particularly in British Columbia, Alberta, Ontario, and Nova Scotia.
Related topics