National home sales across Canada in were up 2.8% month-over-month and up 3.5% year-over-year, according to data from the Canadian Real Estate Association (CREA).
The uptick in home sales occurred despite a 2.9% month-over-month decline in newly listed properties. The national sales-to-new-listings ratio rose to 50.1%, up from 47.3% in May, while the long-term average for the national sales-to-new listings ratio is 54.9%.
There were 206,435 properties listed for sale on Canadian MLS Systems at the end of June, an 11.4% year-over-year increase and just 1% below the long-term average for that time of the year.
The non-seasonally adjusted national average home price last month was $691,643, down 1.3% from June 2024. The MLS Home Price Index remained flat (-0.2%) month-over-month and but dropped by 3.7% from one year earlier. The actual (not seasonally adjusted) national average sale price was down 1.3% on a year-over-year basis.
“At the national level, June was pretty close to a carbon copy of May, with sales up about 3% on a month-over-month basis and prices once again holding steady,” said Shaun Cathcart, CREA’s senior economist. “It’s another month of data suggesting the anticipated rebound in Canadian housing markets may have only been delayed by a few months, following a chaotic start to the year; although with the latest 35% tariff threat, we’re not out of the woods yet.”
