Canadian Home Sales Slide 6.9% Yearly | Professional Real Estate Agent Since 1978

After more than four decades helping clients navigate Calgary’s real estate market, I’ve seen plenty of shifts—but the latest numbers across Canada stand out. By mid-Q3, home sales dropped roughly 1% month-over-month and nearly 7% compared to last year. The national price index stayed steady month-over-month but was down about 3% from a year ago. Interestingly, we saw a 3% rebound in newly listed properties after several months of decline, signaling that some sellers are re-entering the market. The sales-to-new listings ratio eased back to about 49%, moving further below the long-term Canadian average of 55%. Economists point to inflation risks and changing growth expectations, and we’re all feeling the effects of higher bond yields—fixed mortgage rates have been climbing in response. Around that time, markets were pricing in a 60% chance of a rate hike in early Q4, and more tightening is expected by 2027. It’s a dynamic landscape, and as always, I’m here to share these insights as we all adapt to the evolving real estate environment.