On a regional basis, transactions were down in seven of the 10 provinces in November, namely in Nova Scotia (-13.0%), Prince Edward Island (-5.6%), Newfoundland (-2.7%), New Brunswick (-2.6%), Quebec (-2.5%),

Ontario (-1.5%, and Manitoba (-0.7%).

On the other hand, home sales increased in British Columbia (+2.6%), Alberta (+2.7%) and Saskatchewan

(+3.4%).

After picking up steam in the spring, the number of sales in the real estate market has remained essentially stable since July, despite the Bank of Canada's policy rate cuts in the fall, pointed out National Bank.

In addition, sales remain below their historical average and 7.6% below their most recent peak in November 2024, as trade uncertainty with the United States continues to weigh on the market, stated the bank.

However, National Bank remains optimistic about the residential market in the coming months, as cumulative decreases in the policy rate and improvements in the labor market should help support transaction levels.

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