Daniel Foch on YouTube
Sellers Are Backing Away: Is This The Real Reason Prices Are Holding Up? (CREA update)
Published August 18, 2026
About this video
Canada Housing Market: Supply Tightens as Sellers Back Away (CREA July Update)
Canada’s housing market looks tighter in July mainly because sellers are retreating, not because buyers are surging. CREA data shows home sales rose again and seasonally adjusted prices increased 0.5% month over month (fourth straight gain), but actual sales were still 5.3% below last July and 5.1% lower year-to-date. New listings fell faster for a third straight month, pushing the sales-to-new-listings ratio up to 51.3% and bringing months of inventory back toward balanced territory. The national HPI edged up 0.1% from June but remains down 3.3% year over year, with major markets like Toronto and Vancouver still declining while others (e.g., Quebec, Montreal, Edmonton) are stronger, creating a “two markets” dynamic. The episode argues confidence will return more from extended flat, boring pricing than from volatile one-month bounces, and challenges the “pent-up demand” narrative by noting demand was pulled forward during 2020–2022.
00:00 Market Tightens
01:14 Sales Up But Weak
02:43 Why Sellers Retreat
04:46 Prices Less Bad
06:55 Inventory Normalizing
08:56 Where Listings Vanish
11:09 City Price Divergence
12:29 Bottom Calling Caution
15:28 Buyer Psychology Shift
20:30 Pent Up Demand Myth
22:55 Boring Bull Case
23:59 Wrap Up And Tools
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