Canadian Home Sales Extend Their Recovery in June

According to the Canadian Real Estate Association (CREA) for June 2026, national home sales climbed for a third consecutive month, rising a seasonally adjusted 0.5% to 38,014 transactions, even though activity remains roughly 11% below the 10-year average. The composite benchmark price held essentially flat at $657,700, the first month without a decline in 17 months.

• The MLS Home Price Index composite price came in essentially unchanged at $657,700, with condominium prices posting the best monthly gain of any property type and their first increase in nearly three years.
• Months of inventory eased to 4.8, and the national sales-to-new-listings ratio (SNLR) climbed to 50.2%, its first reading above 50% so far in 2026.
• The typical home now costs about 4.24 times the median dual income, down from 5.95 times at the February 2022 peak and close to 2019 levels, with real, inflation-adjusted prices sitting roughly 26% below their high.

CREA’s July 15 forecast revision now points to 463,336 sales for 2026, a 1.4% downgrade tied largely to a shrinking population base. Statistics Canada figures show the population fell for a third straight quarter, driven by a roughly 20% drop in new permanent immigrants and more deaths than births. Ontario is the only province CREA expects to see sales rise this year, Alberta prices turned a corner in the second quarter, and Newfoundland and Labrador remains the country’s last full seller’s market.

If you’re weighing a purchase or planning a renewal as affordability continues to improve, compare today’s mortgage rates in Canada and connect with nesto mortgage experts to see how affordable homeownership can be for you.

Canadian Housing Market Highlights

• The average selling price of a home in Canada decreased by 3.3% year-over-year to $665,600 in June.
• The average selling price of a single-family home in Canada decreased by 2.9% year-over-year to $744,100 in June.
• The average selling price of a townhouse/multiplex in Canada decreased by 4.5% year-over-year to $604,400 in June.
• The average selling price of a condo in Canada decreased by 5.5% year-over-year to $464,900 in June.
• The average rent in Canada decreased by 4.3% year-over-year to $2,033 for June. 
• July 21, 2026: Today’s lowest mortgage rate in Canada is 4.09% for a 5-year fixed.

Data from the Canadian Real Estate Association (CREA) indicates that the benchmark price of resale residential homes sold across Canada in June was $665,600, and it decreased by 3.3% compared to a year ago.

CREA also reported a sales-to-new-listings ratio (SNLR) of 50%, indicating Balanced market conditions nationally for June.

Composite Home Prices

Single-family Home Prices

Townhouse and Multiplex Prices

Condo Prices

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National Rents Post a Third Straight Monthly Gain

According to the National Rental Report for July 2026, the average asking rent across Canada eased to $2,033 in June, down 4.3% from a year earlier but up 0.2% from May, the third straight monthly increase since bottoming out at a 35-month low of $2,008 in March.

• Purpose-built apartments proved the most resilient rental type, down just 3.1% year over year to $2,034, while condos fell 6.8% to $2,058 and houses and townhomes posted the steepest annual drop, 7.4%, to $2,017.
• Among the six largest markets, Toronto and Vancouver both posted monthly gains in June, Ottawa logged the group’s largest monthly increase at 1.3%, and Calgary posted the steepest annual decline, down 5.6%.
• Shared accommodation rents across British Columbia, Alberta, Ontario, and Quebec held flat at $900 for a sixth straight month, still down 4.1% from a year ago.

Twenty-one straight months of annual declines is a long stretch by any measure, yet three consecutive monthly gains since March’s low hint that the correction may be losing steam. The gap between Canada’s most and least expensive large rental markets kept widening for a sixth straight month, with North Vancouver holding its spot as the country’s priciest market at $2,944, even as Edmonton stood out as the only major market where shared-accommodation rents climbed.

Start by comparing mortgage rates in Canada to see how they stack up against renting, then connect with nesto mortgage experts to map out what your home purchase could look like.

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Canada Market Rents Snapshot

The average rent in Canada was $2,033 for the month of June, which decreased by 4.3% year over year.

The average rent for a 1-bedroom apartment in Canada was $1,767 for the month of June, which decreased by 4.5% year over year.

The average rent for a 2-bedroom apartment in Canada was $2,159 for the month of June, which decreased by 2.8% year over year.

Rental Price Changes by City

Rank	City	Total Average	1 Bedroom	2 Bedrooms
1	North Vancouver	$2,983	$2,457	$3,363
2	Vancouver	$2,723	$2,392	$3,336
3	North York	$2,563	$2,154	$2,765
4	Kanata	$2,551	$2,282	$2,766
5	Toronto	$2,543	$2,213	$2,912
6	Burnaby	$2,522	$2,135	$2,766
7	Coquitlam	$2,504	$2,083	$2,687
8	Oakville	$2,438	$2,170	$2,657
9	Etobicoke	$2,427	$2,084	$2,629
10	Burlington	$2,381	$2,064	$2,470
11	Mississauga	$2,360	$2,056	$2,437
12	Halifax	$2,351	$2,051	$2,628
13	Langley	$2,285	$1,965	$2,439
14	Vaughan	$2,277	$2,028	$2,586
15	Victoria	$2,258	$1,999	$2,642
16	Brampton	$2,231	$1,962	$2,355
17	Ajax	$2,217	$1,834	$2,262
18	Scarborough	$2,210	$1,862	$2,292
19	Guelph	$2,193	$1,901	$2,276
20	Surrey	$2,187	$1,803	$2,239
21	Ottawa	$2,179	$1,956	$2,462
22	Barrie	$2,144	$1,874	$2,164
23	New Westminster	$2,132	$1,888	$2,640
24	Waterloo	$2,115	$1,918	$2,253
25	Kingston	$2,111	$1,875	$2,232
26	Kelowna	$2,110	$1,831	$2,241
27	Nanaimo	$2,102	$1,847	$2,313
28	Laval	$2,089	$1,726	$2,350
29	East York	$2,077	$1,829	$2,335
30	Cambridge	$2,075	$1,836	$2,141
31	Airdrie	$2,027	$1,477	$1,814
32	Peterborough	$2,000	$1,755	$1,968
33	Brossard	$1,987	$1,708	$2,246
34	Greater Sudbury	$1,980	$1,702	$2,140
35	Oshawa	$1,966	$1,740	$2,015
36	Montreal	$1,951	$1,780	$2,257
37	Kamloops	$1,949	$1,796	$2,034
38	Hamilton	$1,939	$1,680	$2,255
39	London	$1,932	$1,664	$2,068
40	Brantford	$1,923	$1,779	$2,029
41	Calgary	$1,886	$1,515	$1,853
42	Kitchener	$1,865	$1,662	$2,048
43	Niagara Falls	$1,861	$1,607	$1,976
44	St. Catharines	$1,827	$1,570	$1,904
45	Gatineau	$1,781	$1,593	$1,888
46	Welland	$1,762	$1,533	$1,937
47	Côte Saint-Luc	$1,705	$1,450	$1,971
48	Windsor	$1,702	$1,488	$1,921
49	Winnipeg	$1,678	$1,472	$1,770
50	Sarnia	$1,664	$1,477	$1,709
51	Edmonton	$1,610	$1,292	$1,632
52	Saskatoon	$1,544	$1,341	$1,561
53	Lethbridge	$1,534	$1,321	$1,543
54	Quebec City	$1,508	$1,292	$1,675
55	Red Deer	$1,508	$1,337	$1,499
56	Regina	$1,457	$1,309	$1,523
57	Fort McMurray	$1,413	$1,212	$1,443
58	Medicine Hat	$1,370	$1,238	$1,374
59	Lloydminster	$1,306	$1,026	$1,378
60	St. John's	$1,172	$1,061	$1,268

Average Rent by City
Source: Rentals.ca Network Data & Urbanation Inc.

Rental Price Changes by Province

Rental Price Growth by Housing Type

How Does Renting Compare with Homeownership Across Canada?

Each $100,000 in mortgage balance costs an average of $530.91 per month on nesto’s lowest fixed 5-year rate at 4.09% and $495.28 per month on nesto’s lowest adjustable 5-year rate at 3.40%.

For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.42. Rates used for calculation are those offered on insured purchases with less than a 20% downpayment on a 25-year amortization. Canada’s policy rate is 2.25%, and nesto’s prime rate is 4.45%.

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Frequently Asked Questions (FAQ) About the Canadian Housing Market in 2026

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Why Choose nesto

At nesto, our commission-free mortgage experts, certified in multiple provinces, provide exceptional advice and service that exceeds industry standards. Our mortgage experts are salaried employees who provide impartial guidance on mortgage options tailored to your needs and are evaluated based on client satisfaction and the quality of their advice. nesto aims to transform the mortgage industry by providing honest advice and competitive rates through a 100% digital, transparent, and seamless process.

nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.

Contact our licensed and knowledgeable mortgage experts to find your best mortgage rate in Canada.

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