Home Sales Down Annually but More Activity Expected

After a brief pause in September, home sales across Canada picked back up again in October, rejoining the trend in place since April.

Residential property transactions recorded over Canadian MLS systems edged up 0.9 per cent month-over-month, marking six monthly gains in the last seven months.

But despite the increase, the number of homes that changed hands was 4.3 per cent lower than in October 2024.

And while new inventory declined 1.4 per cent from September, active listings were up 7.2 per cent from a year earlier.

The combination of fewer sales and greater supply year-over-year negatively affected property prices, though the drop was slight. The average sale price was $690,195 — down 1.1 per cent from October 2024.

With interest rates now almost in stimulative territory, the Canadian Real Estate Association expects housing markets to continue to become more active, although this is likely to be tempered by ongoing economic uncertainty.

November numbers will show whether the Bank of Canada’s last policy announcement on Oct. 29 has positively impacted the market.

From there, the winter season is expected to be quiet — typical for the time of year. All eyes will be on the 2026 spring market to see if all that pent-up demand will finally come off the sidelines in a big way.