Canadian home sales in June edged up by 0.5% month-over-month and by 0.9% year-over-year, according to data from the Canadian Real Estate Association (CREA). This occurred as new listings fell back 1.3% on a month-over-month basis, marking a second straight decline.
There were 208,578 properties listed for sale on all Canadian MLS Systems at the end of June, up by 0.6% from a year earlier and 0.8% above the long-term average for that time of the year. There were 4.8 months of inventory nationally at the end of June, unchanged from May and the lowest level so far this year.
Last month’s non-seasonally adjusted national average home price was $696,078, up 0.5% from May. Regionally, prices remain down on a year-over-year basis in British Columbia, Alberta, and Ontario. Prices were also down year-over-year in Nova Scotia for the first time in more than three years.
“June’s housing numbers continued to build momentum following the late start to the year in May, with virtually every metric moving in the right direction,” said Shaun Cathcart, CREA’s senior economist. “Looking ahead, fixed mortgage rates have eased from their peak in April, and rate hikes from the Bank of Canada this year are much less likely than they were just a month ago. This is good news for borrowers. Additionally, home prices are no longer falling in most of the markets where they were previously, which had likely been keeping a lot of buyers waiting on the sidelines. As such, we continue to expect the second half of the year to be quite a bit more active than the first half, similar to sales activity in 2024 and 2025.”
CREA also updated its 2026 and 2027 forecasts for home sales activity and average home prices.
For 2026, 463,336 residential properties are now forecast to trade hands via Canadian MLS Systems, a 1.4% decline from 2025. The national average home price is forecast to rise by 1.1% on an annual basis to $686,710. In 2027, national home sales are forecast to climb 3.7% to 480,567 units while the national average home price is forecast to climb 1.1% from 2026 to $694,164 in 2027.
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