Sales fell year over year, even as benchmark prices rose for a sixth straight month
New Brunswick’s housing market sent conflicting signals in May 2026. Prices climbed for a sixth consecutive month, but sales fell sharply from a year earlier.
The number of homes sold through the MLS System of the New Brunswick REALTORS du Nouveau Brunswick totalled 925 units in May — a decline of 12.4% from May 2025.
Sales were 9.2% below both the five-year and ten-year averages for the month.
Despite softer volumes, prices held firm. The overall MLS Home Price Index (HPI) composite benchmark price reached $352,200 in May 2026, up 10.1% from a year earlier.
That gap — falling sales, rising prices — reflects a province where supply and demand conditions in the Atlantic Canadian housing market remain tighter than many other parts of Canada.
New Brunswick housing market: sales decline across all regions
Sales activity fell across all areas of the province on a year-over-year basis in May.
The regional breakdown:
- Greater Moncton: -19.8%
- Northern and Valley Regions: -17.3%
- Fredericton: -8.8%
- Saint John: -0.9%
Saint John was the most resilient market in the province. Greater Moncton posted the steepest drop.
On a year-to-date basis, home sales totalled 3,358 units over the first five months of 2026. This reflects a decline of 7.3% from the same period in 2025.
For context, the Canadian Real Estate Association downgraded its 2026 national sales forecast to approximately 475,000 transactions. This is a reflection of the cautious conditions affecting markets coast to coast.
Benchmark prices: MLS HPI breakdown by housing type
Prices climbed across most categories. Townhouses led the gains; apartments lagged.
| Housing type | Benchmark price (May 2026) | Year-over-year change |
|---|---|---|
| Composite | $352,200 | +10.1% |
| Single-family | $353,600 | +10.2% |
| Townhouse/row | $281,100 | +17.2% |
| Apartment | $291,100 | +2.0% |
Source: New Brunswick REALTORS du Nouveau Brunswick / CREA, May 2026
Townhouses posted the strongest year-over-year gain at 17.2%. Apartments were the exception, rising just 2.0%. This pattern was consistent with weaker apartment conditions seen in other Canadian markets this year.
Supply building, but sellers still hold the edge
New listings rose 4.7% from May 2025, with 1,629 new residential listings recorded in May 2026. That marked the fifth consecutive monthly increase in new listings.
Active residential listings numbered 3,728 units at the end of May, a gain of 4.6% from May 2025. Active listings were 17.8% above the five-year average for the month and have not been this high in May in more than five years.
Months of inventory reached 4.0 at the end of May. This is up from 3.4 months a year earlier, and below the long-run average of 4.2 months for this time of year.
Justin Morehouse, chair of the New Brunswick REALTORS du Nouveau Brunswick, described the conditions as broadly balanced but still favouring sellers.
“May delivered a mixed but steady picture for the housing market. Sales were lower than last year but improved from April, even though activity remained well below what we would normally expect for this time of year,” Morehouse said.
“Active listings also rose for the fourth consecutive month and were hovering well above the five-year average for May, which helped keep overall market conditions largely balanced, though still tilted slightly in favour of sellers.”
The Bank of Canada’s fifth consecutive rate hold at 2.25% is adding to that caution.
New Brunswick housing market: regional snapshot, May 2026
| Region | Sales | New listings | Dollar volume | Average price |
|---|---|---|---|---|
| Fredericton Area | 270 | 410 | $107,332,055 | $397,526 |
| Greater Moncton | 296 | 588 | $115,109,524 | $388,884 |
| Northern and Valley Region | 143 | 310 | $35,783,495 | $250,234 |
| Saint John | 216 | 321 | $84,900,053 | $393,056 |
| New Brunswick (total) | 925 | 1,629 | $343,125,127 | $370,946 |
Source: New Brunswick REALTORS du Nouveau Brunswick / CREA, May 2026
Greater Moncton generated the highest dollar volume at $115.1 million. The Northern and Valley Region had the lowest average price at $250,234, reflecting New Brunswick’s position as one of the most affordable housing markets in Canada relative to other provinces.
Total dollar volume across the province reached $343.1 million in May 2026 — down 10.7% from May 2025.
The province’s housing market remains split: prices pushing higher, volumes pulling back. Whether buyer confidence recovers through the second half of 2026 will determine which trend wins out.
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