Canada’s property market is entering steadier waters, with June home sales up 2.8 per cent month-on-month and 3.5 per cent year-on-year. The national sales-to-new-listings ratio now sits at a balanced 50 per cent, signalling healthier market conditions.

Toronto recorded its strongest July sales since 2021, rising 10.9 per cent compared to last year, supported by lower borrowing costs and improved affordability. Quebec City and Montreal also stood out with double-digit annual sales growth, highlighting strong regional demand.

Prices remain under pressure in Ontario and British Columbia, yet national averages have largely stabilised. Elevated inventories suggest buyers have stronger negotiating power, pointing to a more balanced outlook heading into the second half of 2025.