National home sales fell 10.7% in November compared with the same month last year as the Canadian Real Estate Association says activity has veered into a holding pattern heading into 2026.
The association says 33,895 properties changed hands across the country last month, as home sales also ticked 0.6% lower from October on a seasonally adjusted basis.
The actual national average sale price of a home sold in November was $682,219, down 2% from a year earlier.
CREA senior economist Shaun Cathcart says some sellers are making price concessions in order to get deals done before the end of the year, however demand could pick up in 2026 as a result of the Bank of Canada’s “clear signal that rates are now about as good as they’re likely going to get.”
The association says new listings were down 1.6% month-over-month.
There were 173,000 properties listed for sale across Canada at the end of November, up 8.5% from a year earlier but 2.5% below the long-term average for that time of the year.