Canada Home Sales Show Modest Momentum

Early-Q2 home sales totaled 42.9K across Canada, ↓4% yearly from 44.7K, while seasonally adjusted activity ↑~1% from Late-Q1 levels, showing modest monthly improvement.
The national avg. sale price reached ~$695K, ↑~2% yearly. The typical-home price index was broadly flat MoM and ↓~4% yearly, signaling stabilization.
New listings ↑~4% MoM in Early-Q2, marking the traditional spring market start. Active supply reached 187.6K, still ~6% below long-term norms nationally.
An economist said uncertainty and higher mortgage rates muted the expected 2026 rebound, yet stronger Mid-Q2 momentum, shorter market times, and stable prices emerged.
Current 2026 expectations call for transactions ↑1% versus 2025, with the national avg. price ↑~2% to ~$689K for the yr across Canada.