Ottawa, ON June 17, 2024
While May was another relatively uneventful month for many Canadian housing markets with national month-over-month home sales edging slightly lower and new listings moving only a little higher, the Bank of Canada’s recent rate drop will likely lead to increased activity moving forward.

Highlights:
• National home sales edged back 0.6% month-over-month in May.
• Actual (not seasonally adjusted) monthly activity came in 5.9% below May 2023.
• The number of newly listed properties ticked up 0.5% month-over-month.
• The MLS® Home Price Index (HPI) dipped 0.2% month-over-month and was down 2.4% year-over-year.
• The actual (not seasonally adjusted) national average sale price posted a 4% year-over-year decrease in May.