National Home Sales Climb for Third Consecutive Month

Canadian home sales edged up again in June for back-to-back months of gains, though the pace has slowed considerably from May.

The number of transactions recorded over MLS systems rose 0.5 per cent month-over-month.

This modest increase follows a 5.5 per cent jump recorded in May, and a 0.9 per cent gain in April, leaving national sales activity nearly seven per cent above its March level.

Meanwhile, new listings fell 1.3 per cent month-over-month in June, marking a second consecutive monthly decline. Combined with the modest increase in sales, the national sales-to-new listings ratio tightened to 50.2 per cent compared to 49.3 per cent in May, marking the first time this year the measure has risen above the 50 per cent mark.

There were 208,578 properties listed for sale at the end of June, up just 0.6 per cent from a year earlier and 0.8 per cent above the long-term average for that time of the year.

National months of inventory stood at 4.8 months, unchanged from May, and the lowest level so far in 2026.

“The last couple of months have seen the return of more certainty around both interest rates and home values, along with an increasing number of buyers in the market,” says Garry Bhaura, chair of the Canadian Real Estate Association. “We may see a brief pause in that trend as Canadians enjoy their summer, but the stage is set for a busier fall market.”

The national composite MLS Home Price Index (HPI) was unchanged from May to June, ending a string of monthly declines that began in February 2025.

On an annual basis, the index was down 3.6 per cent compared to June 2025, though this was the smallest year-over-year decline since last October.

The non-seasonally adjusted national average home price was $696,078, up 0.5 per cent from the same month last year.

Regionally, prices remained lower than a year earlier in British Columbia, Alberta and Ontario, although those declines have continued to narrow as prices stabilized in recent months.

Nova Scotia posted its first year-over-year price decline in more than three years, as prices have cooled in 2026.