Canadian Home Sales Slide Down Slightly in August

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Postmedia has not reviewed the content. by GlobeNewswire Canadian Home Sales Slide Down Slightly in AugustAuthor of the article:CREA Monthly Home Sales, August 2026 GNWOTTAWA, Ontario, Sept. 15, 2026 (GLOBE NEWSWIRE) — The number of home sales recorded over Canadian MLS® Systems decreased by 0.7% on a month-over-month basis in August 2026. Monthly activity has now remained largely unchanged since May.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Account“Sales activity and price trends were largely unchanged for a fourth consecutive month in August,” said Shaun Cathcart, CREA’s Senior Economist. “What has changed is the broader economic environment, with the Bank of Canada recently warning of rising inflation risks, along with doubts about the durability of recent economic growth. For borrowers, fixed mortgage rates have already increased on higher bond yields. Meanwhile, on the variable rate side, a rate hike is not only back on the table for this year but already priced in by markets. This fresh round of incoming headwinds is expected to dampen the prospects for further housing market momentum heading into 2027.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againNational home sales fell by 0.7% month-over-month.Actual (not seasonally adjusted) monthly activity came in 6.9% below August 2025.The number of newly listed properties climbed 3.3% on a month-over-month basis.The MLS® Home Price Index (HPI) was unchanged on a month-over-month basis and was down 3% year-over-year.The actual (not seasonally adjusted) national average sale price was up 0.6% on a year-over-year basis in August 2026.New listings rebounded by 3.3% on a month-over-month basis in August 2026, reversing three straight declines earlier in the summer.“The noticeable increase in new supply in August was both broad based across all the largest markets and most apparent towards the end of the month. This suggests sellers were looking to get an early start to the fall market, particularly given how late Labour Day was this year,” said Garry Bhaura, CREA Chair. “For buyers, it will mean the usual seasonal burst of new properties to choose from, but at the same time they also have to contend with a fresh round of economic uncertainty. If you’re thinking about buying or selling a property in this evolving market, get in touch with a REALTOR® in your area today.”The gain in new supply combined with the small decline in sales in August caused the national sales-to-new listings ratio to ease back to 49.1% compared to 51.1% in July. The long-term average for the national sales-to-new listings ratio of 54.7%, with readings roughly between 45% and 65% generally consistent with balanced housing market conditions.There were just under 200,000 properties listed for sale on all Canadian MLS® Systems at the end of August 2026, in line with the historical average for that time of the year and just 1.4% above the year earlier level. Overall supply has been more or less sliding sideways since spring 2025.There were 4.8 months of inventory on a national basis at the end of August 2026, unchanged for the fourth consecutive month and slightly below the long-term average for the measure of five months. Based on one standard deviation above and below that long-term average, a seller’s market would be below 3.6 months, and a buyer’s market would be above 6.4 months.The National Composite MLS® Home Price Index (HPI) was unchanged from July to August. Prices have remained largely unchanged month-to-month since the spring, marking the longest period of price stability since 2024, when prices were flat throughout the year.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.The non-seasonally adjusted National Composite MLS® HPI was down 3% compared to August 2025. Year-over-year declines have been shrinking since January, with the August 2026 reading marking the smallest decrease since October 2025.The non-seasonally adjusted national average home price was $668,219 in August 2026, up 0.6% from the same month last year.The next CREA statistics package will be published on Friday, October 16, 2026.PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.CREA cautions that average price information can be useful in establishing trends over time but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.MLS® Systems are co-operative marketing systems used only by Canada’s real estate boards to ensure maximum exposure of properties listed for sale.The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations, representing more than 155,000 REALTORS® through 61 real estate boards and associations.Further information can be found at http://CREA.ca/statistics.For more information, please contact:Pierre Leduc, Media RelationsThe Canadian Real Estate AssociationTel.: 613-237-7111 or 613-884-1460E-mail: pleduc@CREA.caNotice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.