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In August 2025, Canadian home sales hit their highest level for that month in four years, with 40,257 residential properties sold — a 1.9% increase over August 2024 and up 1.1% from July. This marked the fifth consecutive month of sales growth, following a cumulative gain of about 12.5% since March. Meanwhile, new listings rose to 195,453, up 2.6% month-over-month and about 8.8% year-over-year, adding more inventory into the market.

On pricing, the national average sale price was $664,078, which represents a modest 1.8% year-over-year increase. However, when using CREA’s MLS® Home Price Index (which more closely tracks “typical” homes), there was a slight monthly decline of 0.1% from July to August, and that index remains down year-over-year. Inventory levels are steady: there were about 4.4 months of supply nationally, which suggests the market is balanced — not strongly favoring buyers or sellers.

Looking ahead, the report suggests the fall season may bring more momentum. The increase in listings that typically accompanies early September could further boost sales. Also, there’s speculation that if the Bank of Canada cuts interest rates (expected by some to be a quarter-point to 2.5%) this could pull sidelined buyers back into the market. That said, regional variation remains significant: some markets like Greater Toronto saw sales dip slightly month-to-month, while others such as Montreal, Vancouver, and Ottawa helped pull the national numbers up.

Read the full article: CBC