Canada’s housing market showed renewed momentum in October, with national sales and prices edging upward. According to the Canadian Real Estate Association (CREA), home sales rose 0.9% month-over-month — marking six increases in the past seven months. This steady climb reflects growing buyer confidence, supported by interest rate cuts earlier this year and a more balanced market overall.
“After a brief pause in September, home sales across Canada picked back up again in October, rejoining the trend in place since April,” said Shaun Cathcart, CREA’s Senior Economist.
🏡 What’s Happening in the Market?
Buyers are gradually returning, encouraged by lower borrowing costs and more stable pricing. While economic uncertainty still lingers, the fundamentals are improving:
- Sales-to-new-listings ratio tightened to 52.2%, up from 51% in September — consistent with a balanced market.
- New listings declined 1.4% month-over-month, suggesting sellers may be waiting for spring.
- Inventory levels held steady at 4.4 months — the lowest since January and below the long-term average of five months.
- Active listings reached 189,000, up 7.2% from last year, but still aligned with seasonal norms.
CREA Chair Valérie Paquin noted that “underlying demand for housing is picking up steam,” with many watching the spring 2026 market for a potential surge in activity.
💰 What’s Happening with Prices?
The National Composite MLS® Home Price Index (HPI) rose 0.2% between September and October. While prices are still down 3% year-over-year, this is the smallest decline since March — a sign that the market may be stabilizing.
- The national benchmark average price is now 3.1% lower than a year ago.
- Price declines have moderated, giving buyers a bit more breathing room.
- In regions like the Greater Golden Horseshoe, activity remains subdued due to trade uncertainty and past overbuilding — but even there, signs of recovery are emerging.
🔍 Bottom Line for Buyers and Homeowners
This fall’s housing data points to a market that’s slowly regaining strength. Lower interest rates and easing prices are nudging buyers off the sidelines, while inventory remains tight enough to support price stability. For homeowners, this could mean stronger resale value heading into 2026. For buyers, it’s a chance to enter the market before competition heats up in the spring.
If you’re planning to buy, renew your mortgage, or explore refinancing options, now is a great time to reassess your strategy. A more active spring market is on the horizon — and preparation today could mean opportunity tomorrow.
📞 Ready to explore your options? Reach out for personalized mortgage advice tailored to your goals and budget.
More Reading:
Home sales in Canada recovering, but buyers still cautious, data shows – National | Globalnews.ca
Home sales in Canada recovering, but buyers still cautious, data shows – National | Globalnews.ca
