Canadian Housing Market Report

*Seasonally Adjusted

Note: Data sourced from the Canadian Real Estate Association (CREA)

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Terms and conditions apply; rates are per annum and subject to change without notice. Eligible for CDIC deposit insurance. Non-Registered rates are tiered and based on your balance. 3.00% applies to deposits of $25,000 or more. See WealthONE website for current rates and applicable balance tiers. Highest rate in Canada for non-promotional HISA accounts, as confirmed by WOWA.ca as of June 25, 2026.

Canada's housing market was relatively steady in June 2026. National sales edged higher, but the average and benchmark home prices both declined from May. The national average home price fell below $700,000 to $696,078, down 0.8% month-over-month but still 0.5% higher than in June 2025. National sales reached 38,014, increasing 0.5% from May but declining 2.2% year-over-year.

The national benchmark home price was $665,600, down 0.3% month-over-month and 3.6% year-over-year. Canada's sales-to-new-listings ratio increased to 50.2% from 49.2% in May 2026. With 4.8 months of seasonally adjusted inventory, the national housing market remained balanced.

Note: Sales are seasonally adjusted

Nationally, 38,014 homes were sold in June 2026, up slightly from 37,816 in May 2026. Sales increased month-over-month in every province with available June data except Quebec. The increase in the national sales-to-new-listings ratio suggests that demand strengthened slightly relative to the number of homes entering the market. However, the decline in both the national average and benchmark prices shows that the improvement in sales did not produce broad price growth.

Five provinces set at least one all-time price record in June 2026. Newfoundland and Labrador stood out by reaching new highs for both its average and benchmark home prices. Manitoba and Quebec set records for their average prices, while Saskatchewan and PEI reached new benchmark-price highs. The records remained concentrated outside Ontario and British Columbia, where benchmark prices were still considerably below last year's levels.

Newfoundland and Labrador recorded the strongest annual benchmark-price growth, with its benchmark rising 10.8% year-over-year to a record $358,000. It also posted the largest monthly increase, rising 2.3% from May 2026. New Brunswick's benchmark remained 5.9% higher than last year despite falling 2.7% month-over-month. Saskatchewan and Quebec also recorded annual benchmark gains of more than 4%. British Columbia and Ontario continued to experience the largest annual benchmark-price declines. BC's benchmark was down 5.0% year-over-year, while Ontario's declined 4.6%.

Canada's seasonally adjusted months of inventory remained at 4.8 months in June 2026, indicating broadly balanced conditions nationally. British Columbia remained the most buyer-friendly major provincial market, with 6.4 months of supply. PEI had 5.9 months, while Quebec had 5.3 months based on average sales over the previous 12 months.

Alberta and Saskatchewan continued to have the tightest conditions. Alberta had 2.8 months of inventory, while Saskatchewan had just 2.5 months.

Note: Canada's figure is seasonally adjusted. Provincial figures are calculated using active listings divided by sales for the month. Quebec is calculated using average sales over the previous 12 months.

British Columbia's housing market saw its average home price edge up 0.1% month-over-month to $946,878, but remained 0.8% below June 2025.

Sales increased 6.4% from May to 7,225 and were 0.9% higher year-over-year. However, the provincial benchmark price fell to $887,100, down 0.2% monthly and 5.0% annually.

With 46,321 active listings and 6.4 months of inventory, British Columbia remained the most buyer-friendly major provincial housing market.

Quebec's average home price reached a record $568,942 in June 2026. That was only 0.1% higher than in May but represented annual growth of 4.2%.

Sales moved in the opposite direction, falling 8.7% month-over-month to 8,492 and declining 4.3% year-over-year. There were 14,002 new listings, resulting in a sales-to-new-listings ratio of 60.6%.

Quebec's benchmark price increased to $550,400, up 0.5% monthly and 4.3% annually. With 5.3 months of inventory based on average sales over the previous 12 months, Quebec continued to qualify as a seller's market under the province's definition.

Quebec City recorded 903 sales, down 6.3% from May but up 11.6% year-over-year. Its average home price rose to $508,024, representing monthly growth of 1.0% and annual growth of 8.5%. The Montreal average home price was $689,908 in June 2026, an all-time high, and up 5.0% year-over-year.

Alberta

Alberta's average home price fell 1.1% month-over-month to $541,778 but remained 3.2% higher than in June 2025.

Sales increased 3.8% from May to 7,684, although they were approximately 3% lower year-over-year. The benchmark price increased 0.3% monthly to $516,600 but remained 1.7% below last year.

New listings totalled 12,439, resulting in a sales-to-new-listings ratio of 61.8%. With 2.8 months of inventory, Alberta remained firmly favourable to sellers.

Saskatchewan

Saskatchewan's average home price declined 2.8% from May to $375,223 but remained 3.9% higher year-over-year. The provincial benchmark price moved in the opposite direction, rising 1.3% to a record $385,900. That was 4.8% higher than in June 2025.

Sales climbed 17.7% month-over-month to 1,849 and were approximately 5% higher year-over-year. With 2,735 new listings, Saskatchewan's sales-to-new-listings ratio reached 67.6%. At just 2.5 months of supply, Saskatchewan remained the tightest provincial housing market included in the inventory data.

Saskatoon recorded 737 sales, up 12.5% from May and 1% year-over-year. Its average price was $446,853, down 2.3% monthly but up approximately 6% annually.

Regina recorded 581 sales, up 18.8% from May and approximately 8% year-over-year. Its average home price rose to $378,028, up 0.4% monthly and approximately 7% annually.

Manitoba

Manitoba's average home price reached a record $424,251 in June 2026, rising 0.8% month-over-month and 2.2% year-over-year.

Sales increased to 1,856, up 1.9% from May and 1.0% from June 2025. The benchmark home price rose 0.5% to $398,700 and was 3.8% higher annually.

There were 2,555 new listings, producing a sales-to-new-listings ratio of 72.6%. That ratio points to strong seller-market conditions.

Nova Scotia

Nova Scotia's housing market recorded stronger sales but lower prices in June 2026. The average home price fell 3.5% from May to $481,384 and was 1.5% lower year-over-year.

Its benchmark price declined 2.2% monthly to $431,700 and was down 1.3% annually. Sales rose 8.9% month-over-month to 1,190 but remained approximately 1.6% below June 2025.

With 2,037 new listings, the sales-to-new-listings ratio was 58.4%. Nova Scotia had 4.5 months of inventory and remained broadly balanced.

In Halifax's housing market, the average home price fell 4.8% month-over-month to $599,016 and was approximately 3.2% lower year-over-year. Sales increased 6.0% from May to 580 but remained approximately 5.1% below last year.

Prince Edward Island

PEI's average home price rose to $410,105 in June 2026, increasing 1.4% from May and 5.3% year-over-year. The provincial benchmark price was essentially unchanged at a record $383,300 and was 1.4% higher than in June 2025.

Sales increased 22.7% month-over-month to 216 but remained 8.9% below last year. With 440 new listings, PEI's sales-to-new-listings ratio was approximately 49.1%.

PEI had 5.9 months of inventory, indicating balanced conditions with relatively more choice for buyers.

New Brunswick

New Brunswick's benchmark home price was $342,600 in June 2026. While this was 2.7% lower than in May, it remained 5.9% higher year-over-year.

Newfoundland and Labrador

Newfoundland and Labrador reached record highs for both its average and benchmark home prices in June 2026. The average home price increased slightly to $375,334 and was 6.1% higher year-over-year.

The benchmark price rose 2.3% from May to $358,000, representing annual growth of 10.8%. Sales climbed 35.1% month-over-month to 554 and were 0.4% higher than in June 2025.

New listings totalled 1,017, resulting in a sales-to-new-listings ratio of 54.5%. With 4.6 months of supply, Newfoundland and Labrador remained broadly balanced despite its strong price growth.

Canada's housing market changed relatively little at the national level in June 2026. Sales increased only slightly from May, while the sales-to-new-listings ratio moved higher and remained within balanced-market territory.

Prices were softer nationally. The average home price fell back below $700,000, while the benchmark declined both monthly and annually. However, the national figures continued to hide significant regional differences. Ontario and British Columbia experienced lower benchmark prices than last year despite improving sales. In contrast, Quebec, Manitoba, Saskatchewan, PEI, and Newfoundland and Labrador set at least one price record.

Inventory remained the clearest dividing line. British Columbia continued to offer buyers the most selection, while Alberta and Saskatchewan remained tight and favourable to sellers. The Atlantic provinces generally recorded strong sales growth, although price movements varied considerably between markets.

📊 2026 Canada Housing Market Forecast

The national housing market in 2026 is forecast to see muted sales growth and stagnant national prices, driven by a dynamic conflict between demand (immigrants) and supply-side costs (trade war) that is left unbalanced by a stable interest rate environment.

1. 🏦 Constraint from Stable Interest Rates

Market expectation of stable BoC rates until 2027 acts as a brake on sales activity.

• No "Unleashing" of Demand: The market will not benefit from the "powerful boost" of further rate cuts that some forecast.

• Mortgage Renewal Headwind: A large portion of all outstanding Canadian mortgages are expected to renew in 2026. Since many of these renewals will be at higher rates than their initial contracts (especially five-year fixed mortgages), homeowners will face payment increases for those renewing in 2026. This rising cost of ownership will force/encourage some sellers to list.

2. ⚔️ Damage from Trade Conflict

The trade conflict is a net negative that hits both the supply and demand sides of the market simultaneously.

• Supply Crisis Deepens: Retaliatory tariffs on key imports (e.g., steel, aluminum, glass, and major appliances) from the U.S. will drive up the price of building materials. This added expense will cause developers to delay or scrap new projects, reducing housing starts and prolonging the supply crisis.

• Confidence Sinks: The primary risk is the "overall economic slowdown" caused by trade uncertainty, which translates directly into lower consumer confidence and a hesitation to make a large purchase, further muting sales activity.

3. 🌍 Stabilization from Established Immigrants

The sustained underlying demand from recent immigrants who are now credit-ready will be the market's main stabilizing force.

• Demand Maturation: Immigrants from the last few years are now meeting the necessary two years of Canadian residency and job stability required for favourable mortgage financing and are transitioning from the rental market to the ownership market.

• Price Floor: This structural demand will be concentrated in major urban markets (Toronto, Vancouver, Montreal, Calgary), acting as a floor under prices and likely preventing the very steep annual declines that some forecast for Ontario and BC from being realized. This sustained demand will offset economic softness caused by trade anxiety.