Canada June Home Price Index Tad Lower on Month, Higher Slip on Year, Says CREA

09:30 AM EDT, 07/15/2025 (MT Newswires) -- The Canadian Real Estate Association (CREA) on Tuesday released statistics on the country's home sales for June.

In summary: National home sales were up 2.8% month-over-month; Actual (not seasonally adjusted) monthly activity came in 3.5% above June 2024; The number of newly listed properties fell 2.9% on a month-over-month basis; The MLS Home Price Index (HPI) was almost unchanged (-0.2%) month-over-month and was down 3.7% on a year-over-year basis; The actual (not seasonally adjusted) national average sale price was down 1.3% on a year-over-year basis.

"Most housing markets continued to turn a corner in June, although market conditions still vary considerably depending on where you are in Canada," said Valerie Paquin, CREA Chair. "If the spring market was mostly held back by economic uncertainty, barring any further big shocks, that delayed activity could very likely surface this summer and into the fall.

There were 4.7 months of inventory on a national basis at the end of June, dipping slightly below the long-term average of five months of inventory, noted CREA. Based on one standard deviation above and below that long-term average, a seller's market would be below 3.6 months and a buyer's market would be above 6.4 months.

CREA said the average or median prices of houses can change a lot from one month to the next and provide an inaccurate picture of price values and trends. The MLS HPI is based on the value home buyers assign to various housing attributes, which tend to evolve gradually over time. It's a more "like-for-like" comparison of home prices across Canada.

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