Canadian Existing-Home Sales Continue to Trend Higher in June

On Wednesday, the Canadian Real Estate Association (CREA) reported that existing-home sales recorded over Canadian MLS Systems increased 0.5% in June on a seasonally adjusted basis. Actual, non-seasonally adjusted activity was 0.9% above June 2025.

New listings fell 1.3%, marking the second consecutive monthly decline. With sales rising, the national sales-to-new listings ratio tightened to 50.2%, compared with 49.3% in May. CREA noted that the long-term average is 54.8%, with readings between 45% and 65% generally consistent with balanced market conditions.

As of the end of June, 208,578 properties were listed for sale, up 0.6% from a year earlier and 0.8% above the long-term average for that time of year.

There were 4.8 months of inventory nationally at the end of June, unchanged from May and the lowest level so far this year. The long-term average is five months, with readings below 3.6 indicating a seller’s market and above 6.4 indicating a buyer’s market.

Prices remained below year-ago levels in British Columbia, Alberta, and Ontario, although the declines continued to narrow as prices stabilized. Prices also fell year-over-year in Nova Scotia for the first time in more than three years as price growth continued to slow.

The non-seasonally adjusted average home price was CA$696,078 in June, up 0.5% year-over-year.