September Sees Canadian Home Sales Dip 1.7% After Months of Growth

In September, Canadian home sales dipped 1.7%, marking the end of a growth streak since April, according to the Canadian Real Estate Association. This decline is significant as it reflects shifting market dynamics amid rising interest rates.

• The Canadian Real Estate Association reported a 1.7% decrease in home sales in September compared to August, signaling a potential cooling in the housing market.
• Sales declines were observed in major regions, including Ottawa, Edmonton, Calgary, Greater Vancouver, and Montreal, overshadowing gains in the Greater Toronto area and Winnipeg.
• Despite the monthly dip, year-over-year sales demonstrated resilience, with a 5.2% increase, underscoring ongoing demand in Canada’s housing market amidst fluctuating interest rates.