Canadian home sales rose 5.5% in May 2026, marking the first significant increase this year, with the national average price reaching $702,079, the highest in two years. Sales gains were broad but driven mainly by Ontario. New listings fell 1%, tightening the sales-to-new-listings ratio. The MLS Home Price Index showed a slight monthly decline but a narrower annual drop. Buyer and seller expectations are aligning, stabilizing prices. Interest rate trends remain a key concern for buyers.
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