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Canada's Housing Market Forecast Gets Trimmed Again as June Sales Inch Up
CREA lowers its 2026 home sales outlook for a second time this year, even as national sales edged higher in June and prices show early signs of stabilizing
Published: July 19, 2026
The Canadian Real Estate Association has once again trimmed its outlook for home sales this year, pointing to a rocky start to 2026 even as the market shows tentative signs of turning a corner. National sales ticked up half a percentage point in June from the month before, building on gains seen in May, but CREA now expects total sales for the year to fall about 1.4 per cent compared to 2025, a downgrade from its earlier forecast. Economists say early-year inflation worries and fears of rising interest rates pushed up bond yields and mortgage costs, cooling buyer activity, while a faster-than-expected slowdown in population growth added further drag. The national benchmark home price sat at $657,700 last month, with Ontario, B.C. and Alberta still seeing softer prices, though the declines are shrinking. Analysts describe the market as gradually finding steadier footing, with regional swings starting to even out heading into the second half of the year.
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