Canada Housing Research Brief

Housing market continues to stabilize. After nearly a year of decline, Canada’s average single-family home price is finding a floor, with values marginally increasing over the past two months to approximately $733,000. While prices remain 3.4 per cent below year-ago levels, the pace of annual decline has narrowed steadily over the past six months, suggesting market conditions are improving. This stabilization comes as buyer demand gains momentum. Home sales rose 5.5 per cent in May, marking the second consecutive monthly increase and the largest gain in nearly two years. At the same time, new listings edged down 1 per cent, tightening the sales-to-new listings ratio to 49.2 per cent. While still consistent with balanced market conditions, the trend indicates a housing market gradually strengthening.