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Or sign-in if you have an account.Home sales rose for the third month in a row in June. Photo by Michelle Berg/PostmediaSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorFour years into one of the deepest housing corrections in Canada’s history, there are signs the market may be hitting bottom.National figures out yesterday from the Canadian Real Estate Association suggest sales, new listings and prices have all stabilized, said Robert Kavcic, senior economist at BMO Capital Markets.“Don’t be surprised if we’re seeing the low for nominal Canadian home prices right now,” he said in a note Wednesday.National home sales rose 0.5 per cent in June from the month before, the third straight month of gains. New listings fell for the second straight month, narrowing the gap between buyer demand and new supply.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againThe national composite MLS home price index was unchanged from the month before, but that in itself is good news. For the first time in 17 months it did not decline.“Stepping back, inflation-adjusted Canadian home prices suggest the necessary froth cleaning is more or less done,” said Kavcic.There was a lot of froth to clear.Canadian home prices soared around the pandemic when borrowing costs were low and demand high, but since the market peak in 2022 have dropped about 20 per cent.Earlier this year the Bank for International Settlements said Canada’s housing downturn following the boom was the worst among advanced nations.Robert Hogue, assistant chief economist at Royal Bank of Canada, said stabilizing inventory, especially in the hardest-hit provinces Ontario and British Columbia, where listings reached decades highs last year, is paving the way for ending the price correction.With more buyers and fewer sellers, balance is returning to negotiations in parts of Southwestern Ontario, including the Greater Toronto Area.For the first time in more than a year, the home price index in the GTA, Hamilton, Kitchener-Waterloo and Windsor recorded small monthly gains, he said.The index is also steadying in Vancouver and rising slightly in the Okanagan Valley, though the correction in the Fraser Valley continues.Calgary home prices appear to be “turning a corner,” with the home price index up for the second time in three months.“The emerging market recovery in Canada appears to be holding — albeit just barely,” said Hogue.Though June extended the winning streak, sales in the month were still 12 per cent below the 10-year average.“There’s a long road ahead in the recovery,” he said.Sign up here to get Posthaste delivered straight to your inbox.Help is definitely wanted in Alberta.Astonishingly, the province has accounted for most of Canada’s net job growth since the end of 2024, according to Robert Kavcic, senior economist for BMO Capital Markets, who brings us today’s chart.Over the past year, employment rose more than 3 per cent, or 78,000 jobs, while employment in the rest of Canada grew just 0.4 per cent. Most of the jobs were not even directly in the oil and gas industry.The reason for Alberta’s job boom? Kavcic said a stronger economy, less exposure to U.S. tariffs and more people moving to the province from within Canada and abroad explains the outperformance.Today’s Data: Canada housing starts, United States retail sales, pending home sales, NAHB Housing Market IndexEarnings: Netflix Inc., General Electric Co., Kinder Morgan Inc., US Bancorp, Abbott LaboratoriesValeria is 53, single, and wants to retire in two years. She is debt free, owns her Nova Scotia home and has built an investment portfolio worth just over $1 million. Her target monthly income in retirement is $4,500 before tax — similar to her current monthly cash flow needs. Is this realistic? Family Finance crunches the numbersInterested in energy? The subscriber-only FP West: Energy Insider newsletter brings you exclusive reporting and in-depth analysis on one of the country’s most important sectors.Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@postmedia.com with your contact info and the gist of your problem and we’ll find some experts to help you out while writing a Family Finance story about it (we’ll keep your name out of it, of course).Want to learn more about mortgages? Mortgage strategist Robert McLister’s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his mortgage rate page for Canada’s lowest national mortgage rates, updated daily.Visit the Financial Post’s YouTube channel for interviews with Canada’s leading experts in business, economics, housing, the energy sector and more.Today’s Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff and Bloomberg.Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@postmedia.com.Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.