Jason Gaudette

The number of home sales recorded over Canadian MLS® Systems fell by 2.3% month-over-month in September 2026.

“After a four-month run of modestly positive progress on demand, supply, and prices, many of Canada’s housing markets took a step back in September. This was hardly surprising given the latest jump in fixed mortgage rates, and with the Bank of Canada now widely expected to follow with a rate hike before the end of the year,” said Shaun Cathcart, CREA’s Senior Economist. “With housing affordability already stretched, the big question going forward is how much farther will the Bank have to go to keep a lid on inflation next year? Until that becomes clearer, this fresh round of uncertainty will likely send some buyers back to the sidelines.”

September Highlights:

• National home sales declined by 2.3% month-over-month.
• Actual (not seasonally adjusted) monthly activity came in 7.7% below September 2025.
• The number of newly listed properties fell by 1.8% on a month-over-month basis.
• The MLS® Home Price Index (HPI) edged down by 0.4% on a month-over-month basis and was down 3.4% year-over-year.
• The actual (not seasonally adjusted) national average sale price was down 1.6% on a year-over-year basis in September 2026.

https://www.crea.ca/media-hub/news/canadian-home-sales-slide-down-slightly-in-august-2/