Key facts
- Canadian home sales increased by 0.5% in July.
- Canadian home sales have risen for four consecutive months.
- The Canadian Home Price Index increased by 0.1% in July.
- The Canadian Home Price Index saw its first rise since November 2024.
- Newly listed properties declined in Canada in July.
- US homebuilder sentiment rose to 35 in August.
- US homebuilder sentiment remains weak.
- Builders in the US are offering price cuts and incentives.
Canadian home sales have risen for the fourth consecutive month, with a 0.5% increase observed in July compared to the previous month. This marks a sustained period of growth in the housing market. Alongside the rise in sales, property prices also experienced a slight upward movement. The Home Price Index recorded a 0.1% increase from the prior month, signifying the first price rise since November 2024. The market dynamics in July were influenced by a decline in newly listed properties. This reduction in inventory contributed to a sales-to-new listings ratio that is approaching the long-term average, indicating a more balanced market.