CREA expects 2026 sales down 5.2%

Canada’s housing market is weakening: CREA lowered its 2026 home-sales forecast to 5.2% below last year, while national sales fell 2.3% in September from August and 7.7% year over year. Rising oil prices, higher borrowing costs and broader economic uncertainty are keeping buyers cautious. In Montreal, sales dropped 11.6% year over year as new listings and inventory increased, giving buyers more options, but Quebec’s real estate board says the market remains far from balanced and sellers retain negotiating leverage. Prices were mostly flat to modestly higher, and the Quebec association expects high prices to persist despite cooling demand.