Canadian housing market gains momentum as prices rise for first time since 2024
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Canada's housing market showed further signs of stabilization in July 2026, with national home sales rising 0.5% from June, marking a fourth consecutive monthly increase. CREA's MLS Home Price Index also edged 0.1% higher, its first monthly gain since November 2024.
Despite the monthly improvement, actual sales remained 5.3% below July 2025, while the Home Price Index was down 3.3% year over year. The national average sale price, a separate measure influenced by the mix of homes sold, was $674,819, up 0.2% from a year earlier.
New listings fell 1.6% month over month, marking a third consecutive decline. With sales rising and new supply easing, the national sales-to-new-listings ratio increased to 51.3%, moving closer to its long-term average of 54.7% and suggesting increasingly balanced market conditions.
Canada had 205,388 properties listed for sale at the end of July, only 0.6% more than a year earlier. National inventory fell to 4.7 months, its lowest level so far in 2026, as CREA said housing markets across much of the country were gradually moving back toward more normal supply-and-demand conditions.
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Tahani Elghazaly5252 Posts
