Canadian Existing-Home Sales Decline in September

On Friday, the Canadian Real Estate Association (CREA) reported that existing-home sales recorded over Canadian MLS Systems declined 2.3% in September.

As of the end of September, slightly more than 200,000 properties were listed for sale, up 1.8% from a year earlier and slightly above the long-term average. Overall supply has remained near historical average levels since spring 2025.

New listings fell 1.8% monthly, reversing an increase in August. With sales declining slightly more than new listings, the national sales-to-new listings ratio eased to 48.8%, compared with 49.1% in August. CREA noted that the long-term average is 54.7%, with readings between 45% and 65% generally consistent with balanced market conditions.

There were 4.9 months of inventory on a national basis at the end of September, up slightly from the summer and in line with the long-term average.

The non-seasonally adjusted national average home price was CA$666,538, down 1.6% from a year earlier.