Home sales in August fell 6.9 percent in Canada from a year earlier, as economic headwinds are expected to weaken housing market momentum for the rest of 2026, the Canadian Real Estate Association says.
Home sales and price trends had remained mostly unchanged for four months in a row, but housing prospects are dampened by a Bank of Canada warning on inflation and doubts about sustained economic growth, senior economist Shaun Cathcart said.
“For borrowers, fixed mortgage rates have already increased on higher bond yields. Meanwhile, on the variable rate side, a rate hike is not only back on the table for this year but already priced in by markets,” he said. …