Canada’s housing market posted its biggest monthly gain in a year and a half in May 2026, with home resales climbing 5.5% month-over-month on a seasonally adjusted basis. That’s the second consecutive uptick and a sign that the extended lull may be easing, according to an analysis by Rachel Battaglia, Economist at Royal Bank of Canada (RBC).
The improvement has brought national resale activity nearly in line with year-ago levels, though Battaglia noted that volumes remain below pre-pandemic averages in most major markets across the country.
Ontario leads resales boost
Ontario was the clear standout, with resales rising 8.8% seasonally adjusted from April. Greater Toronto Area markets delivered the strongest results, with Toronto, Mississauga, and York Region all posting double-digit gains.