• Home sales remained relatively flat (-0.6%) from October to November at the national level following a marginal 0.9% gain the previous month.
• New listings declined by 1.6% from October to November, a third consecutive decline.
• Active listings edged down by 0.6% in November as cancelled listings remained elevated despite a moderation in the previous months.
• Market conditions remained unchanged during the month and continued to indicate a balanced market compared to the historical average. Still, the balanced market conditions at the national level largely reflect soft conditions in Ontario and B.C., while markets in all other provinces continue to favour sellers.
• Housing starts rose by 21.8K from 232.2K in October to 254.1K in November (seasonally adjusted and annualized). This increase offsets some of the 48.4K decline seen in October and brings starts above consensus expectation of 250.0K. Increases in housing starts were seen in Toronto (+7.0K to 23.7K), Montreal (+5.4K to 39.1K), and Vancouver (+9.1K to 28.5K), while Calgary (-6.8K to 29.2K) registered a decline.
• The Teranet–National Bank Composite National House Price Index rose 0.4% between October and November after seasonal adjustment, marking a fourth consecutive increase for this indicator. Six of the eleven CMAs included in the index recorded increases: Halifax (+1.3%), Montreal (+1.2%), Toronto (+0.6%), Calgary (+0.3%), Victoria (+0.2%) and Vancouver (+0.1%). Prices remained stable in Hamilton and Winnipeg, while they declined in Quebec City (-0.2%), Edmonton (-0.4%) and Ottawa-Gatineau (-0.7%).

https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/logement/economic-news-resale-market.pdf