August Brings More Affordable Options for Canadian Homebuyers

Canadian home sales declined 0.7% in August, marking the first drop since spring, amid rising inflation risks and potential Bank of Canada rate hikes. New listings increased 3.3%, offering more options for buyers despite economic uncertainty. The sales-to-new listings ratio remained balanced, and home prices were stable month-over-month but 3% lower year-over-year. The national average home price rose 0.6% annually to $668,219.