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Last Updated: Jul 02, 2026

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Historical Mortgage Rates

For Other - Last Updated Jun 01 2026

RATE TODAY

3.99%Up to 4.79%

RATE TODAY

3.49%Up to 5.00%

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Canada's Housing Markets: Activity slowing amid disrupted U.S. trade relations.

Canadian housing markets have been affected by U.S. trade disruptions, a rapid decline in immigration, and the recent oil price shock, contributing to a slowdown in many markets in 2026. 

National housing activity remains sluggish in May 2026, largely due to weakening conditions in the least home-affordable provinces of British Columbia and Ontario. The slowdown is likely due to economic uncertainty and the recent increase in fixed rates following higher energy prices. 

National average home sales declined by 5.1% from a year earlier. Nearly all major centres across the country reported decreases in sales, with the Greater Toronto Area and the Northwest Territories being the only markets to post modest gains this month. Some experts are attributing Toronto's price gains to the recent HST rebate being offered to buyers of newly built homes.

Canada's average home price increased slightly by 1.5% year over year to $702,079. While most of the centres recorded price increases, declines in the GTA and the GVA weighed on the national average. 

New listings declined in most centres, with the GTA recording the largest drop. Only Quebec, the Northwest Territories, and Yukon saw listings increase. 

Canada remained in a balanced market at a 46% SNLR. 

Read more:
Housing Stats
Housing Market Forecast (2026-2029)
Rate Forecast (2026-2030)

Canada Housing Market Update
Of residential sales ntl
Avrage home price ntl
Sales to listings ratio ntl

Canada May 2026 Housing Statistics

Number Sold% YOYAverage Price% YOYNew Listings% YOY
GTA6,583+6.31,069,700-4.617,698-18.9
Calgary2,906-13.4682,701+2.55,649-9.3
GVA2,142-3.71,238,181-2.26,004-9.1
Montreal CMA4,623-6.8593,400+2.57,564+1.5
Ottawa1,411-10.2735,647-1.22,910-4.6
Quebec CMA964+5.2441,700+5.81,251+12.2
Winnipeg1,605-4.1437,968+3.02,290-0.2
Victoria691-5.31,051,018+3.51,678-2.3
Halifax547-5.9629,270+0.4886-3.7
Northwest Territories50+6.4525,845+3.053+6.0
Yukon64-1.5577,721+1.089+9.9

Data Source: CREA Monthly News Release and QPAREB's Monthly Statistics

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