Canadian Existing Home Sales (June 2026)

Canadian home sales continue to rise in June  

• Canadian existing home sales were up for a third consecutive month, increasing by 0.5% month-on-month (m/m) in June. Gains were headlined by Ontario (+2.5% m/m), Saskatchewan (+6.8% m/m), and Alberta (+1% m/m). The gain was partially offset by a dip in B.C. (-0.4% m/m) and Quebec (-2.2% m/m).
• New listings edged down 1.3% m/m. With new listings falling and sales jumping higher, the sales-to-new listings ratio tightened by almost a percentage point to 50.2% in June. This is still below the long-term average and signals only modest price growth moving forward.
• Canadian average home prices posted a more muted gain than sales, edging higher by 0.2% m/m. Prices were up in B.C. (+0.7% m/m) and Quebec (+0.9% m/m), while Ontario prices slipped 0.4% m/m. Saskatchewan (-4.2% m/m) dragged down prices in the Prairies.
• The MLS home price index, a more "like for like" measure, was effectively flat in June, and down 3.6% on a year-on-year basis. Prices for detached units saw no growth, while condo prices edged higher.
  
   

Key Implications

• Canada's housing market continued to recover in June. That said, sales levels remain low - dragged down by B.C. and Ontario – signalling soft conditions overall. This reality comes through when observing price trends. Canadian average home prices rose in Q2, but this was on the heels a weak first-quarter performance, leaving little appreciation, on net, in the first half.
• Moving forward, we think Canadian housing will continue it's recovery in the second half of the year, supported by pent-up demand and past affordability improvements in B.C. and Ontario. However, it will probably take until 2027 for Canadian average prices to turn meaningfully higher given loose supply/demand conditions in B.C. and Ontario, and cooling trends elsewhere in Canada (see our latest forecast).
  
   

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