Economy · 19 d ago
Canadian home sales slip 2.3% in September as mortgage rates jump
“This was hardly surprising given the latest jump in fixed mortgage rates,” said Shaun Cathcart, senior economist at the Canadian Real Estate Association (CREA).
— Shaun Cathcart, CREA
Average home price in September
666,538 $
The national average home price was $666,538 in September, down 1.6 per cent from a year earlier, as prices took a fresh step down in Ontario.
2026 forecast
444,530 sales
2027 forecast
464,235 sales
CREA now forecasts 444,530 sales in 2026, down 5.2 per cent from 2025, before a 4.4 per cent rise to 464,235 in 2027.
What's next
Markets are pricing in about 100 basis points of Bank of Canada rate hikes by this time next year, which could send some buyers back to the sidelines.
