Canadian home sales rise for fourth straight month as market nears balance
Inventory tightens as new listings fall
Supply continues to pull back. Newly listed properties declined 1.6% month-over-month in July, the third consecutive drop, leaving 205,388 homes available nationally at month-end.
Months of inventory fell to 4.7, the lowest reading of 2026 and below the long-term average of five months, signalling that the balance of power is gradually shifting.
The sales-to-new listings ratio climbed to 51.3%, approaching the long-term benchmark of 54.7%.
“Markets across the country are generally moving back towards balance,” said Shaun Cathcart, Senior Economist at CREA.
The regional picture is nuanced. The Prairies, Quebec, and Atlantic Canada are cooling from sellers’ market conditions, while British Columbia’s Lower Mainland and Ontario’s Greater Golden Horseshoe are tracking toward more balanced territory.
