May home sales down 5.1 per cent from year earlier

27-Jun-2026

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The Canadian Real Estate Association says home sales in May were down compared with a year ago, but there was “meaningful upward momentum” month-over-month for the first time this year.

The organization said home sales in May totaled 47,014, down 5.1 per cent from May 2025. However, activity was up 5.5 per cent on a seasonally adjusted basis compared with April this year.

Shaun Cathcart, CREA’s senior economist, said the month-over-month increase was broad-based but driven disproportionately by Ontario.

“While it was just the first month in 2026 to see any meaningful upward momentum in headline demand, under the surface conditions have been improving for some time,” he said in a news release.

“Sellers’ and buyers’ expectations are increasingly aligned, as evidenced by tightening sale-to-list price ratios and shorter periods between listing and sale dates. As a result, prices have largely stabilized following some softness earlier in the year.”