Canadian Home Sales Jump Following Slower Spring Start (opens original article in a new tab)

Canadian home sales rose 5.5% in May 2026 following a slower spring start, with prices stabilizing and inventory levels decreasing. The national average home price reached $702,079, the highest in two years. Key factors included a tightening sales-to-new listings ratio and improved market conditions.

• Canadian home sales increased 5.5% month-over-month in May 2026
• New listings decreased 1% month-over-month while sales-to-new listings ratio tightened to 49.2%
• National average home price rose 1.5% year-over-year to $702,079 in May 2026
• Prices stabilized after earlier softness, with sale-to-list price ratios tightening and days on market decreasing
• Months of inventory dropped to 4.8 from 5.1 in previous months