The number of home sales recorded over Canadian MLS® Systems climbed a further 0.5% on a month-over-month basis in July 2026, marking a fourth consecutive monthly gain.

National Bank says the mortgage payment on a representative home fell to 51.1% of median income, although affordability remains well below historical norms.

Greater Toronto Area (GTA) resale housing market conditions tightened in July 2026 compared the same month a year earlier. Home sales edged slightly lower over that period, while new listings were down substantially. This suggests that active homebuyers faced more competition from other potential purchasers. If this trend continues, average selling prices could level off in the second half of this year.