The Canadian Real Estate Association reported a 4.3% drop in home sales for May compared to last year, although there was a positive month-over-month rise of 3.6% from April. This marks the first such increase in over six months. New listings also saw a 3.1% increase, though overall listings were below historical averages. Despite a lower average home price of $691,299, economic factors like trade stabilization have somewhat improved buyer confidence, though mortgage rates remain a barrier to wider market recovery.
Home sales in May fell 4.3% year-over-year, but month-over-month trends showed signs of recovery with a 3.6% increase from April.
After a sluggish start in 2025, it appears the anticipated turnaround in housing activity may have just faced initial delays due to uncertainty.
While home sales are subdued, new listings rose, suggesting a certain resilience in the market despite ongoing challenges with mortgage rates and affordability.
Canada's housing market shows slight recovery signs with improved buyer confidence, but affordability issues still limit investor activity and overall sales dynamics.
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