Home sales dip but momentum builds heading into summer
May sales fell 5.1% year-over-year, but month-over-month activity surged 5.5%, signaling a potential market shift.
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Canadian home sales fell 5.1 percent in May compared with a year ago, but the Canadian Real Estate Association is seeing a shift. Activity jumped 5.5 percent on a seasonally adjusted basis from April — the first meaningful upward momentum of 2026.
The national average home price hit $702,079, up 1.5 percent year-over-year and the highest in two years. New listings dipped slightly, down one percent month-over-month.
Shaun Cathcart, CREA's senior economist, says expectations from both buyers and sellers are finally aligning, which is helping stabilize prices after months of friction. "Conditions have been improving under the surface for some time," he said.
For Calgary buyers and sellers, the data suggests the market may be finding its footing after a prolonged cool-down.