# 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.
- Title: Canada's Housing Market Slows as Mortgage Rates Rise
- Summary: 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…
- Keywords: canada, housing market, mortgage rates, canadian real estate association, home sales, real estate, money, business, Canada's, Housing, Market, Slows
- Source: Financialpost — https://financialpost.com/real-estate/canada-housing-market-step-back-rates-climb
- Read time: 1 min
- Topics: canada, housing market, mortgage rates, canadian real estate association, home sales, real estate, money, business
## 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.
## Key takeaway

Canadian home sales fell 2.3% month over month in September as higher mortgage rates weighed on buyers.