Metropolitan Resale Snapshot

The Resale Market May Be Approaching a Trough

Updated: September 29, 2022

Although August’s 1 per cent dip in national existing home sales was the sixth straight monthly drop, it was the smallest of these drops and may indicate that sales are bottoming out. The decline nonetheless left transactions 28 per cent below August 2021 and 14 per cent below the 10-year average of seasonally adjusted monthly sales.

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Previous Releases

sales fell
Market Downdraft Persists

July’s 5 per cent dip in national existing home sales was the fifth straight monthly drop. It put transactions 27 per cent below July 2021 and 13 per cent below the 10-year average of seasonally adjusted monthly sales. Meanwhile, perhaps unnerved by recent market softness, potential home sellers refrained from marketing their homes, cutting monthly listings by 5 per cent.

Online experience  |  5-min read
August 23, 2022

sales fell
Markets Continue to Slow

National sales of existing homes fell almost 6 per cent in June, the fourth consecutive monthly decline, leaving them down 24 per cent from June 2021. The dip left volumes 7 per cent below the 10-year average of seasonally adjusted monthly sales.

Online experience  |  5-min read
July 29, 2022

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Areas Covered

  • Calgary
  • Edmonton
  • Fraser Valley (includes Abbotsford)
  • Halifax
  • Hamilton
  • Kingston
  • Kitchener
  • London
  • Montréal
  • Newfoundland and Labrador (province)
  • Oshawa
  • Ottawa–Gatineau
  • Québec City
  • Regina
  • Saguenay
  • Saint John
  • Saskatoon
  • Sherbrooke
  • St. Catharines
  • Sudbury
  • Thunder Bay
  • Toronto
  • Trois-Rivères
  • Vancouver
  • Victoria
  • Windsor
  • Winnipeg
Robin Wiebe

Author

Robin Wiebe

Senior Economist
wiebe@conference­board.ca

During his time at the Board, Robin has co-authored various housing reports for external clients and shared responsibility for the Board’s regular municipal forecasts. He also contributes to the national, provincial, and metropolitan forecasts and various industry-specific research reports.

Prior to joining the Board, Robin was a market analyst with the Canada Mortgage and Housing Corporation for 19 years. He reported on the housing market for various internal and external clients and represented CMHC to different media outlets.

Robin holds a masters’ degree in economics from the University of Guelph and a bachelors’ degree in economics from Wilfrid Laurier University.

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About the MRS

The monthly Metropolitan Resale Snapshot provides an overview of Canada’s existing home markets and lets you know what to expect for prices of previously owned homes for 30 areas. Is your market in buyer’s territory, or seller’s? The Conference Board’s forecasting experts know.

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