Canadian Home Sales See First Significant Rise of 2026 Amid Stabilizing Prices
Canadian home sales recorded their first notable month‑over‑month increase of 2026 as transactions through the MLS system climbed 5.5 per cent from April. The Canadian Real Estate Association observed that conditions have been improving for some time despite overall demand remaining 5.1 per cent below May 2025 levels . Ontario drove much of the sales rebound, suggesting that a recent HST rebate temporarily drew attention away from the existing‑home market .
Prices largely stabilized during the month. The national benchmark price slipped just 0.1 per cent to $657,000, while the year‑over‑year drop was 3.9 per cent . Market conditions tightened as new listings edged down, pushing the sales‑to‑new‑listings ratio to 49.2 per cent and placing the market within CREA’s balanced range . Economists cited pent‑up demand and sellers’ willingness to accept lower prices as signs of a potential recovery , though condominium prices in Ontario remained a weak spot with declines ranging from 8.3 per cent to more than 14 per cent across several regional markets .
Read on: Financial Post
