There were more sold signs put up across the country last month, yet the Canadian Real Estate Association is downgrading its outlook for the months ahead.

The association expects that about 463,000 homes will be sold nationwide this year – down by about 1.6 per cent from 2025.

Prices are expected to rise in the months to come with the average price of a home in this country around $686,710 – which is about $2,000 less than predicted in the spring quarterly update.

The average price of a home in Newfoundland and Labrador is $369,165 – up 6.8 per cent year over year. The average price is expected to climb another 2 per cent to nearly $376,000 in 2027.

There are an estimated 285 fewer properties on the local market in comparison to last year. The association expects to see more “for sale” signs going up in this province next year.