{"id":28496,"date":"2026-09-21T10:10:37","date_gmt":"2026-09-21T17:10:37","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=28496"},"modified":"2026-09-21T10:16:57","modified_gmt":"2026-09-21T17:16:57","slug":"canadian-housing-markets-down-slightly-as-economic-challenges-to-dampen-momentum","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2026\/09\/canadian-housing-markets-down-slightly-as-economic-challenges-to-dampen-momentum\/","title":{"rendered":"Canadian Housing Markets Down Slightly as Economic Challenges to Dampen Momentum"},"content":{"rendered":"<p style=\"text-align: justify;\">Ottawa, ON September 15, 2026 \u2013 The number of home sales recorded over Canadian MLS\u00ae Systems decreased by 0.7% on a month-over-month basis in August 2026. Monthly activity has now remained largely unchanged since May.<\/p>\n<p style=\"text-align: justify;\">\u201cSales activity and price trends were largely unchanged for a fourth consecutive month in August,\u201d said Shaun Cathcart, CREA\u2019s Senior Economist. \u201cWhat has changed is the broader economic environment, with the Bank of Canada recently warning of rising inflation risks, along with doubts about the durability of recent economic growth. For borrowers, fixed mortgage rates have already increased on higher bond yields. Meanwhile, on the variable rate side, a rate hike is not only back on the table for this year but already priced in by markets. This fresh round of incoming headwinds is expected to dampen the prospects for further housing market momentum heading into 2027.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>August Highlights :<\/strong><\/p>\n<p style=\"text-align: justify;\"><em>\u2022 National home sales fell by 0.7% month-over-month.<\/em><br \/>\n<em>\u2022 Actual (not seasonally adjusted) monthly activity came in 6.9% below August 2025.<\/em><br \/>\n<em>\u2022 The number of newly listed properties climbed 3.3% on a month-over-month basis.<\/em><br \/>\n<em>T\u2022 he MLS\u00ae Home Price Index (HPI) was unchanged on a month-over-month basis and was down 3% year-over-year.<\/em><br \/>\n<em>\u2022 The actual (not seasonally adjusted) national average sale price was up 0.6% on a year-over-year basis in August 2026.<\/em><\/p>\n<p style=\"text-align: justify;\">New listings rebounded by 3.3% on a month-over-month basis in August 2026, reversing three straight declines earlier in the summer.<\/p>\n<p style=\"text-align: justify;\">\u201cThe noticeable increase in new supply in August was both broad based across all the largest markets and most apparent towards the end of the month. This suggests sellers were looking to get an early start to the fall market, particularly given how late Labour Day was this year,\u201d said Garry Bhaura, CREA Chair. \u201cFor buyers, it will mean the usual seasonal burst of new properties to choose from, but at the same time they also have to contend with a fresh round of economic uncertainty. If you\u2019re thinking about buying or selling a property in this evolving market, get in touch with a REALTOR\u00ae in your area today.\u201d<\/p>\n<p style=\"text-align: justify;\">The gain in new supply combined with the small decline in sales in August caused the national sales-to-new listings ratio to ease back to 49.1% compared to 51.1% in July. The long-term average for the national sales-to-new listings ratio of 54.7%, with readings roughly between 45% and 65% generally consistent with balanced housing market conditions.<\/p>\n<p style=\"text-align: justify;\">There were just under 200,000 properties listed for sale on all Canadian MLS\u00ae Systems at the end of August 2026, in line with the historical average for that time of the year and just 1.4% above the year earlier level. Overall supply has been more or less sliding sideways since spring 2025.<\/p>\n<p style=\"text-align: justify;\">There were 4.8 months of inventory on a national basis at the end of August 2026, unchanged for the fourth consecutive month and slightly below the long-term average for the measure of five months. Based on one standard deviation above and below that long-term average, a seller\u2019s market would be below 3.6 months, and a buyer\u2019s market would be above 6.4 months.<\/p>\n<p style=\"text-align: justify;\">The National Composite MLS\u00ae Home Price Index (HPI) was unchanged from July to August. Prices have remained largely unchanged month-to-month since the spring, marking the longest period of price stability since 2024, when prices were flat throughout the year.<\/p>\n<p style=\"text-align: justify;\">The non-seasonally adjusted National Composite MLS\u00ae HPI was down 3% compared to August 2025. Year-over-year declines have been shrinking since January, with the August 2026 reading marking the smallest decrease since October 2025.<\/p>\n<p style=\"text-align: justify;\">The non-seasonally adjusted national average home price was $668,219 in August 2026, up 0.6% from the same month last year.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/stats.crea.ca\/en-CA\/\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the report.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/stats.crea.ca\/en-CA\/\" target=\"_blank\" rel=\"noopener\">Canadian Home Sales Slide Down Slightly in August<\/a> by CREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ottawa, ON September 15, 2026 \u2013 The number of home sales recorded over Canadian MLS\u00ae Systems decreased by 0.7% on a month-over-month basis in August 2026. Monthly activity has now &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2026\/09\/canadian-housing-markets-down-slightly-as-economic-challenges-to-dampen-momentum\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-28496","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Housing Markets Down Slightly as Economic Challenges to Dampen Momentum &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2026\/09\/canadian-housing-markets-down-slightly-as-economic-challenges-to-dampen-momentum\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canadian Housing Markets Down Slightly as Economic Challenges to Dampen Momentum &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Ottawa, ON September 15, 2026 \u2013 The number of home sales recorded over Canadian MLS\u00ae Systems decreased by 0.7% on a month-over-month basis in August 2026. Monthly activity has now &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/09\\\/canadian-housing-markets-down-slightly-as-economic-challenges-to-dampen-momentum\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/09\\\/canadian-housing-markets-down-slightly-as-economic-challenges-to-dampen-momentum\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Canadian Housing Markets Down Slightly as Economic Challenges to Dampen Momentum\",\"datePublished\":\"2026-09-21T17:10:37+00:00\",\"dateModified\":\"2026-09-21T17:16:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/09\\\/canadian-housing-markets-down-slightly-as-economic-challenges-to-dampen-momentum\\\/\"},\"wordCount\":597,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\",\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/09\\\/canadian-housing-markets-down-slightly-as-economic-challenges-to-dampen-momentum\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/09\\\/canadian-housing-markets-down-slightly-as-economic-challenges-to-dampen-momentum\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2026\\\/09\\\/canadian-housing-markets-down-slightly-as-economic-challenges-to-dampen-momentum\\\/\",\"name\":\"Canadian Housing Markets Down Slightly as Economic Challenges to Dampen Momentum &#8226; 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