September sees a 1.9% month-to-month drop in Canadian home sales

Posted on October 20, 2023   |  

The transition from August to September saw a 1.9% drop in home sales, making it the 3rd straight monthly drop. 

However, this decline was less severe than the previous month's.

When compared to the same period in the previous year, there was a 1.9% increase in the actual number of home transactions, pointing to some positive trends in the housing market.

In September, there was a notable 6.3% rise in newly listed homes compared to the previous month, and these listings were up by around 35% from the low point seen in March.  

By the end of September, there was a 3.7-month supply of homes available on a national scale. 

This was a slight increase from 3.5 months in August and a recent low of 3.1 months in June.