Monthly Housing Market Update

The spring-long stalemate between buyers and sellers stretched into May. Home resales and prices were little changed nationwide, edging lower by 0.6% and 0.2% from the previous month, respectively. High interest rates and poor affordability have taken the wind out of the market’s sail for some time but a looming rate cut—delivered by the Bank […]

We saw a healthy number of new listings come to market this April—but even so, buyers remained on the sidelines across most major Canadian markets. Slower sales amid the influx of supply brought the available inventory back to pre-pandemic levels, relieving some of the supply-demand pressure in Canada’s housing market. Unlike prior months, activity dropped […]

March brought a mixed bag of activity to Canada’s housing market. Resales continued to linger around February levels at the national level—still softer than activity that took place pre-pandemic.

February offered valuable clues on the direction Canada’s housing market is taking. Improving sentiment among buyers and sellers—no doubt stoked by growing expectations

Home resales in Canada increased for the second month in a row in January, rising 3.7% from December. Resales are back up to where they were last summer including the December advance.

Well, 2023 had one last surprise up its sleeve: home resale transactions in Canada bucked the softening trend and rebounded a solid 8.7% m/m in December. What’s more, markets in Ontario and British Columbia—regions that cooled off the most since summer—recorded some of the larger increases. It seems that a combination of price concessions from […]

Canada’s housing market downturn spread further in November. Most markets are now in correction mode with high interest rates, the loss of affordability, and mounting economic uncertainty holding back homebuyer demand, and supply-demand conditions having significantly eased since spring. Though home resales (-0.9% m/m) were off just slightly from October in Canada, the lagged impact […]

Higher interest rates are increasingly cooling housing markets across the country. But there’s no region feeling it more than Ontario at this stage.

The fall season is shaping up to be a relatively quiet period for Canada’s housing market.

Higher interest rates continue to cool down Canada’s housing market following a surprising solid rebound this spring.

The Bank of Canada’s latest back-to-back hikes have put a damper on the housing market’s rebound this summer.

The surge in spring real estate sales is cooling off. Canadian home resales rose just 1.5% in June.