Canadian home sales continued to feel the impact of economic uncertainty and rising mortgage costs in mid-Q3, with national sales down about 1% month-over-month and nearly 7% compared to last year. The price index held steady from the previous month, though it’s off around 3% year-over-year. Interestingly, after three consecutive declines, newly listed properties saw a modest 3% increase. The sales-to-new listings ratio eased further to about 49%—well below the long-term Canadian average of 55%—suggesting a shift toward more balanced market conditions.
As an advisor who’s guided clients through more than $300 million in transactions, I’m closely watching how rising bond yields are pushing fixed mortgage rates higher and how the possibility of another Bank of Canada rate hike (with markets pricing in a 60% chance for early Q4) may shape buyer and seller strategies. For many families, especially those new to Vancouver or investing from overseas, understanding these shifting dynamics is key to making informed decisions—whether you’re looking to settle, invest, or diversify across borders. This is a time when local insight and global perspective can make all the difference in building long-term value.
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