Overview
- Calgary sales fell about 16.4% in August, the Calgary Real Estate Board reported, with the citywide benchmark slipping 1.1% to $569,800 and apartment and row units posting the steepest year‑over‑year drops.
- Metro Vancouver recorded a 4.6% year‑over‑year fall in August sales and a composite benchmark of $1,081,900, down 5.6%, while listings remain roughly a quarter above the region's 10‑year seasonal average.
- Greater Toronto Area activity ended a five‑month rebound as seasonally adjusted sales dropped 1.3% month‑to‑month to 5,484 units and TRREB’s price index was down about 4.5% year‑over‑year to C$931,200.
- National and U.S. listing data show rising supply and continued list‑price declines with delistings down and active inventory growing, a pattern that is giving buyers more negotiating power heading into the fall.
- Market participants point to the Bank of Canada’s held policy rate, five‑year mortgage averages near 4.8%, recent U.S. tariffs, slower immigration and softer investor demand as the main forces dampening sales and shifting bargaining power to buyers.