Home sales in Canada totalled 47,014 in May, 5.1 per cent below the same month in 2025, yet activity rose 5.5 per cent on a seasonally adjusted basis compared with April, marking the first month in 2026 with meaningful upward momentum . The Canadian Real Estate Association noted that sellers’ and buyers’ expectations are aligning, reflected in tighter sale‑to‑list price ratios and shorter listing periods, which has helped stabilise prices after earlier softness . The national average sale price reached $702,079, up 1.5 per cent year over year and topping $700,000 for the first time in 23 months . The association’s home price index, which represents typical home sales, edged 0.1 per cent lower from April and was down 4.1 per cent from a year earlier, the smallest annual decline so far in 2026 .
Analysts describe a tempered spring market influenced by inflation and global uncertainty, yet regionally balanced conditions are emerging. In Edmonton, residential sales fell 12.5 per cent year over year, but seasonal‑adjusted activity ticked up 0.8 per cent from April; average sale prices rose 5.5 per cent from May 2025 and 1 per cent month over month . Economists point to pent‑up demand and gradual seller price concessions as factors that could bring volumes back, noting that the “price destruction phase” may be ending for single‑family homes . Forecasts suggest national sales will grind higher through the second half of the year, with modest average price gains supported by markets outside Ontario . New listings in May declined 1 per cent month over month, leaving just over 200,000 properties for sale—unchanged from a year earlier and slightly below the long‑term average .
Read on: CTV News
