07:38 AM EDT, 09/05/2025 (MT Newswires) -- Canada is probably looking at another month of relatively

balanced overall housing market conditions, with ongoing -- and in some cases, severe -- regional variation, said Bank of Montreal (BMO).

As a quick sample, Vancouver sales were up 2.9% year over year, Toronto was up 2.3% y/ear over year and Calgary was down 7.3% year over year.

While prices in some markets continue to edge higher, those in Toronto are still struggling, noted the bank.

The Toronto benchmark price was down 5.2% year over year in August, suggesting a roughly flat month-over-month

move. Lower prices and sellers finally letting properties go

for under asking, do seem to be allowing the market to

clear better, supporting transaction volumes, stated BMO.

For broader context, this correction in Toronto prices

remains historically significant -- down 18% from the early 2022 high. It also mirrors, but doesn't quite measure up

(down) to, the 1990s bust, pointed out the bank.

Still, even if the market settles here, it's going to be a long way back to peak pricing, as has been BMO's thesis for the past few years.