Canadian Real Estate Market Sees Continued Growth in August

Canada’s real estate market has shown solid signs of recovery, with resales improving for the fifth consecutive month in August 2025. According to a recent report from the National Bank of Canada Capital Markets, sales activity increased by 1.1 percent month over month, marking a significant turnaround after four months of declining figures.

The data highlights a diverse landscape across the provinces. Newfoundland experienced the most substantial rise in resales, climbing nearly 11 percent. Alberta also reported positive growth, with resales up by 2 percent. In contrast, some regions faced declines, including New Brunswick, which saw the largest drop at almost 14 percent month over month.

Year-over-year comparisons also revealed encouraging trends on a national scale. Resales increased by nearly 2 percent compared to August 2024, with the sales levels recorded last month being the highest since 2021. Nonetheless, this year’s August figures remain approximately 30 percent lower than those from four years ago.

Provincial Variations in Sales Trends

Half of the provinces reported year-over-year growth, with Quebec leading the way at over 10 percent. Despite these gains, Alberta was among those experiencing declines, reporting a decrease of 7.2 percent over the same period. Notably, Prince Edward Island recorded the largest year-over-year drop, at 7.4 percent.

As of August 31, 2025, national resales have decreased by 1.5 percent compared to the same period in 2024. This decline may reflect the slower sales activity that characterized the start of the year. The report suggests that the variation in sales could be attributed to changing market conditions and consumer confidence levels.

Overall, the report from the National Bank of Canada paints a mixed but cautiously optimistic picture for the Canadian housing market. As provinces continue to navigate the complexities of the real estate landscape, the coming months will be critical in determining whether this upward trend can be sustained.