Canada Housing Research Brief

Housing recovery loses momentum. Canada’s resale housing market softened in August, with home sales down 0.7 per cent month-over-month and remaining 6.9 per cent below year-ago levels. Activity has changed little since May, suggesting the recovery that emerged earlier this year has begun to stall. Meanwhile, new listings increased 3.3 per cent, reversing three consecutive monthly declines as sellers moved ahead of the fall market. This pushed the sales-to-new-listings ratio down from 51.1 per cent to 49.1 per cent, below its long-term average but still consistent with balanced conditions. National inventory remained stable at 4.8 months, while the number of homes listed for sale stood just 1.4 per cent above August 2025.