Canadian Home Sales — August 2026GLOBAL ECONOMICS

Key arguments

• August's sales dip erases most of the prior two months' gains, raising the question of whether the expected recovery is merely paused.
• With new listings rising 3.3% (sa) and sales falling 0.7%, the market eased into the lower half of balanced conditions.
• National sales have hovered at a constant pace since spring 2022 and were slightly below that pace in August.
• Months of inventory stayed at 4.8, below the pre-pandemic average of 5.2 but up 0.4 from a year ago, suggesting cooling.

Corresponding source evidence

1. National sales have been hovering over a constant pace since Spring of 2022 —when the Bank of Canada started its policy tightening cycle to reduce elevated inflation at the time—and they were slightly below this average pace in August. · 2022
2. With sales declining and new listings increasing, the national sales -to-new listings ratio eased from 51.1% (sa) in July to 49.1% in August, still in the lower half of the balanced national conditions range where it has been hovering since December 2024. · December 2024
3. In August, months of inventory stayed unchanged nationally from their July level at 4.8 but increased by 0.4 (sa) since August 2025, suggesting market conditions have cooled over this period. · August 2025