From Financialpost · · 50s
Canada's Housing Market Slows as Mortgage Rates Rise
Canada's housing market slows as mortgage rates rise, with home sales dropping 2.3% month over month in September.
In brief
Canada's housing market slows as mortgage rates rise, with home sales dropping 2.3% month over month in September. Canadian home sales fell 2.3% month over month in September as higher mortgage rates weighed on buyers. Originally reported by Financialpost.
September Home Sales Drop
Canadian home sales fell 2.3 per cent month over month in September as higher mortgage rates weighed on buyers.
Seasonally Adjusted Decline
The seasonally adjusted decline from August came as transactions dropped 7.7 per cent compared with September 2025.
National Home Price Trend
The national benchmark home price fell to $652,800 in September, down 0.4 per cent from August and 3.5 per cent from a year earlier.
Sales Forecast Downgraded
CREA downgraded its sales forecast, projecting 444,530 transactions in 2026, a 5.2 per cent decline from last year.
At a glance
Canadian home sales fell 2.3% month over month in September as higher mortgage rates weighed on buyers.
