Market Watch - Home Sales Hold Steady as New Listings Ease Up.

While uncertainty about the economy and borrowing costs persists, recent news has been more positive than expected. The latest readings on economic growth and jobs surprised to the upside. This could help bolster consumer confidence and prompt an uptick in home purchases in the months ahead, especially if home prices stabilize as we move through the fall.

Ontario - Home Sales Hold Steady as New Listings Ease Up.

Toronto,  August 6, 2026 – Greater Toronto Area (GTA) resale housing market conditions tightened in July 2026 compared to the same month a year earlier. Home sales edged slightly lower over that period, while new listings were down substantially. This suggests that active homebuyers faced more competition from other potential purchasers. If this trend continues, average selling prices could level off in the second half of this year.

“With sales accounting for a larger share of listings, buyers may find there is less room to negotiate moving forward. If current trends continue, home prices could start to level off compared to last year. Many would-be homebuyers are waiting for confidence in the market and broader economy to improve before making a purchase. This includes more clarity on tariffs, inflation, and borrowing costs,” said TRREB President Daniel Steinfeld.

“While uncertainty about the economy and borrowing costs persists, recent news has been more positive than expected. The latest readings on economic growth and jobs surprised to the upside. This could help bolster consumer confidence and prompt an uptick in home purchases in the months ahead, especially if home prices stabilize as we move through the fall,” said TRREB Chief Information Officer Jason Mercer.

GTA REALTORS® reported 5,995 home sales through TRREB’s MLS® System in July 2026 – a slight decrease of 0.9% compared to July 2025. New listings entered into the MLS® System amounted to 14,484 – down by 17.8% year-over-year.

On a seasonally adjusted basis, July 2026 home sales were up month-over-month compared to June 2026, while new listings were down, which means market conditions continued to tighten during the summer.

The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 4.6% year-over-year in July 2026. The average selling price, at $1,003,956, was down by a similar annual rate of 4.5%. On a month-over-month seasonally adjusted basis, MLS® HPI Composite edged up compared to June 2026, whereas the average selling price was slightly lower.

“Removing remaining municipal roadblocks to attainable housing is a pressing issue in the GTA and Simcoe County. Restrictive zoning, outdated rules, high taxes and fees, and approval delays are making housing more expensive and are key issues in the upcoming municipal election. They add tens of thousands of dollars to the cost of every home and need to be reformed,” said TRREB CEO John DiMichele.

Ottawa Home Sales Hold Steady as New Listings Ease in July

Ottawa, August 6, 2026 -- Ottawa’s housing market held up better than usual as the spring market gave way to summer. Sales in July were virtually unchanged from a year earlier, while new listings edged lower, improving the balance between incoming supply and sales compared with June. July marked the second time in three months that new listings fell below year-earlier levels, adding to signs that the flow of new supply is beginning to moderate and balance, even as the overall number of homes available remained high relative to recent historical trends.

Sales declined 12.7% from June, compared with a median June-to-July decrease of 20.7% over the previous decade. New listings fell at a more typical seasonal pace, allowing the relationship between new supply and sales to improve.

Pricing indicators were mixed, but once again they collectively pointed to stability rather than a market-wide shift. The average sale price was 1.6% lower than in July 2025, while the median price was unchanged. This divergence suggests that the mix of homes sold contributed to the decline in the average price.

Conditions also remained segmented geographically and by type. Absorption was generally firmer in the suburban markets, while the condominium apartment market continued to experience softer conditions, particularly in the downtown core.

“July’s results point to a steady market as it moves through the typical summer slowdown,” said OREB President Tami Eades. “Sales remained close to last year’s level, while fewer new listings helped improve the balance between supply and demand. However, conditions continue to vary significantly by property type and neighbourhood, reinforcing the importance of local data and informed guidance when making real estate decisions.”

Residential Market Activity: A total of 1,325 homes were sold in the Ottawa area through the MLS® System in July, an increase of 0.2% from July 2025. Although sales declined from June as the spring market gave way to summer, Ottawa retained considerably more of its spring activity than it typically has during recent June-to-July transitions.

Activity continued to vary by property type. Single-family sales rose 5.0% year-over-year to 714 transactions. Townhouse sales declined 4.1% to 417, while apartment sales declined 6.6% to 169. While Townhome and apartment sales both declined compared to 2025, that decline was once again less than the year-earlier figures from June.

Year-to-date, 8,288 homes have sold in Ottawa, down 5.2% from the same period in 2025. This July result narrows the year-to-date gap from 6.1% at the end of June. Total year-to-date dollar volume was approximately $5.8 billion, down 5.6% year-over-year.

Prices and Market Balance: The average residential sale price was $683,308 in July, down 1.6% from a year earlier. The median price was unchanged at $635,000.

Taken together with other pricing measures, these figures suggest prices remained broadly stable year-over-year, and that changes in the mix of properties sold influenced the lower average. The MLS® Home Price Index, which is designed in part to adjust for changes in the mix of homes sold, recorded a composite benchmark price of $634,000, down 0.5% year-over-year but up 0.3% from June.

There were 2,530 new listings in July, down 0.8% from a year earlier. Active listings totaled 4,678, up 9.3% year-over-year but down 6.1% from June. Inventory therefore remained high compared with recent historical trends, but the growth in available supply continued to moderate.

The sales-to-new-listings ratio increased from 48.8% in June to 52.4% in July as sales held up comparatively well and fewer new properties entered the market. Months of inventory rose modestly from 3.3 in June to 3.5 in July. Although an increase is typical between June and July, this year’s 0.2-month rise was less than half the median increase recorded over the previous decade.

Other transaction measures were somewhat softer. Homes sold for an average of 97.8% of their listing price, compared with 98.0% in July 2025, while the median time on market increased from 24 to 28 days. July therefore showed improved absorption of incoming listings, but not a broad shift toward tighter market conditions.

Single-family homes remained the steadiest major segment. Months of inventory rose to 3.2, while the single-family benchmark price increased 0.6% year-over-year. Townhouses recorded 3.0 months of inventory, down from June, while the sales-to-new-listings ratio improved to 55.9%. However, the townhouse benchmark price remained 5.1% below last year. The condominium apartment market continued a yearlong trend of having the softest conditions, particularly in downtown Ottawa. Apartments recorded 5.4 months of inventory, a 41.0% sales-to-new-listings ratio and a median of 41 days on market. The apartment benchmark price was down 5.2% year-over-year.

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Alberta - Price Declines Driven Mostly by Apartment Condominiums

Calgary, August 4, 2026 – As we move into the second half of the year, it is not a surprise to see slower market activity. In July, both sales and new listings eased over June levels, declining to 1,904 sales and 3,323 new listings. Sales were nine% lower than last year’s levels, while new listings were 15% lower. The adjustment in both sales and new listings caused little change in the sales-to-new-listings ratio, which sat at 57%. 

In July, the unadjusted total residential benchmark price was $569,200, down slightly over June and two% lower than levels reported last year. The persistent oversupply of apartment condos is contributing to a steeper price decline of over eight%. Meanwhile, at the other end of the spectrum, detached prices have eased by under two% compared to last year, mostly driven by adjustments in the North East and North Districts. 

“Several consecutive years of high construction levels and the sudden drop in mostly international migration have contributed to the shift in housing market conditions mostly for higher-density homes, a transition that started in the second half of last year,” said Ann-Marie Lurie, Chief Economist at the Calgary Real Estate Board (CREB®). “While new home construction is slowing, there are over 17,000 apartment-style units under construction. This continues to weigh on rental and higher-density properties, driving price adjustments.”     

While demand has slowed this year, levels remain stronger than those reported during the challenging market conditions experienced from 2015 to 2019. What has shifted significantly is the additional supply choice across the housing spectrum. Total resale inventory levels remained relatively stable compared to both June and July 2025. However, the slower July sales pushed the months of supply up to three and a half months. While the months of supply is rising across all property types, conditions remain mostly balanced in the detached and semi-detached sectors. In the higher-density sectors, the market continues to favour the buyer for apartment-style homes with nearly five months of supply, while row is experiencing some signs of oversupply.

Detached:  Sales in July eased to 1,012 units, down nearly two% over last year. These numbers have been trending lower throughout most of the year. While slower sales are partly due to changing economic conditions, we have also seen a pullback in the number of new listings. In July, new listings fell to 1,707 units, 9% lower than last year, contributing to the year-over-year inventory declines that have persisted since March. The pullback in sales this month outpaced the pullback in inventory levels, causing the months of supply to rise to nearly three months. While this is still in a balanced range, conditions do differ from under two months in the West District to over five months in the Northeast District. Added competition from the new home market is also weighing on recently built homes listed on the resale market.

As of July, the unadjusted detached price in Calgary was $743,900, lower than June and nearly 2% lower than prices reported last July. While prices have eased over 2025’s peak, it has not erased all the gains reported over the past several years. Price movement has varied significantly across each district. Compared to last year, prices have improved in both City Centre and the West District. The steepest decline occurred in the North East at nearly six%.

Semi-Detached: Despite a typical monthly pullback, sales remained similar to last year, keeping year-to-date levels relatively consistent with 2025. While new listings eased in July, they remain down three% so far this year. Throughout most of 2026, conditions have remained relatively balanced, with a sales-to-new-listings ratio remaining near 60% and months of supply below three months.

As of July, the unadjusted benchmark price was $691,000, down from June but similar to last year's level. While prices have remained relatively stable for semi-detached homes, there is variation throughout the city. Most sales activity occurred in the City Centre, where year-to-date prices have remained stable compared with 2025. The West District was the only district to record a year-over-year price gain, while the steepest declines occurred in the North East, where buyers' market conditions have emerged.

Row: For the third consecutive month, row sales have trended down, contributing to a year-to-date decline of 15%. Over the past several months, we have also reported a pullback in new listings, keeping the sales-to-new-listings ratio above 55%.  While inventory levels have also been trending down, they remain elevated based on long-term trends. The steep pullback in sales this month was enough to push the months of supply up to nearly four months.

An upward trend in the months of supply over the past few months has prevented any further price increases. In July, the unadjusted benchmark price eased to $418,500, down over the previous month and six% lower than last year’s levels. Added competition in the new home market has also weighed on resale row prices. However, like other property types, year-to-date price declines range from 12% in the North East and East Districts to a three% decline in the West District.

Apartment Condominium: Increased rentals and new supply are weighing on ownership demand for resale condos as sales have fallen by nearly 26% so far this year. While new listings have been easing over last year’s levels and are helping to bring down inventory, the 1,999 units available in the resale market are still elevated compared to long-term trends and sales. The combined impact of additional supply and reduced demand has kept the months of supply in a range that has favoured the buyer since the end of spring 2025.

 The persistent excess supply has placed downward pressure on prices. As of July, the unadjusted benchmark price was $297,600, down over June, over eight% lower than last year’s levels and 13% below peak levels reported in 2024. While the rate of decline has ranged across districts, all districts have reported relatively steep adjustments in prices.

British Columbia - Housing Market Activity Uneven Across BC Regions

Vancouver, August 13, 2026 -  The British Columbia Real Estate Association (BCREA) reports that 6,561 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in July 2026, down 6.7% from July 2025. The average MLS® residential price in BC in July 2026 was down 1.3% at $929,619 compared to $942,247 in July 2025.

Total MLS® residential sales dollar volume was $6.1 billion, down 7.9% from the same time the previous year. BC MLS® unit sales were 18.8% lower than the ten-year average for the month of July.

“Seasonally adjusted sales activity rose from the previous month across most of BC, while weaknesses remained concentrated in the Lower Mainland,” said BCREA Chief Economist Brendon Ogmundson. “Looking ahead, resilience in the economy and a recovering labour market should translate to regional markets converging to long-term averages over the next year.”

Year-to-date, BC residential sales dollar volume is down 6.7% to $38.04 billion, compared with the same period in 2025. Residential unit sales are down 5.6% year-over-year to 40,432 units, while the average MLS® residential price is also down 1.2% to $940,948.