The number of home sales recorded over Canadian MLS® Systems declined by 1.7% on a month-over-month basis in September 2025, ending a string of gains that began in April. That said, it was still the best month of September for sales since 2021.

The small monthly decline was the result of lower sales activity in Greater Vancouver, Calgary, Edmonton, Ottawa, and Montreal, which more than offset gains in the Greater Toronto Area and Winnipeg.

“While the trend of rising sales that began earlier this year took a breather in September, activity was still running at the highest level for that month since 2021, and that was true in July and August as well, said Shaun Cathcart, CREA’s Senior Economist. “With three years of pent-up demand still out there and more normal interest rates finally here, the forecast continues to be for further upward momentum in home sales over the final quarter of the year and into 2026.”

September Highlights:

• National home sales declined 1.7% month-over-month.
• Actual (not seasonally adjusted) monthly activity came in 5.2% above September 2024.
• The number of newly listed properties edged down 0.8% on a month-over-month basis.
• The MLS® Home Price Index (HPI) was little changed (-0.1%) month-over-month and was down 3.4% on a year-over-year basis.
• The actual (not seasonally adjusted) national average sale price ticked up 0.7% on a year-over-year basis.

https://www.crea.ca/media-hub/news/canadian-home-sales-mark-four-year-high-for-the-month-of-september/