{"id":7500,"date":"2026-06-08T09:34:51","date_gmt":"2026-06-08T09:34:51","guid":{"rendered":"https:\/\/enduranceimmobilier.com\/non-classe\/tardif-index-may-2026-montreals-market-in-1-number\/"},"modified":"2026-07-24T10:43:09","modified_gmt":"2026-07-24T10:43:09","slug":"tardif-index-may-2026-montreals-market-in-1-number","status":"publish","type":"post","link":"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/","title":{"rendered":"Tardif Index May 2026: Montreal&#8217;s Market in 1 Number"},"content":{"rendered":"\n\n\n\n<meta charset=\"UTF-8\"\/>\n<meta name=\"viewport\" content=\"width=device-width, initial-scale=1.0\"\/>\n<title>Tardif Index May 2026: Montreal&#8217;s Market in 1 Number<\/title>\n<meta name=\"description\" content=\"In May 2026, Montreal Island's residential market is balanced (Tardif Index 50.3\/100), but supply is tightening. Numbers, categories, and context explained.\"\/>\n<meta property=\"og:title\" content=\"Tardif Index May 2026: Montreal's Market in 1 Number\"\/>\n<meta property=\"og:description\" content=\"Balanced market at 50.3\/100, but supply is tightening. Montreal Island's residential market explained simply, with supporting numbers.\"\/>\n<meta property=\"og:type\" content=\"article\"\/>\n<meta property=\"og:url\" content=\"https:\/\/enduranceimmobilier.com\/indice-tardif\/indice-tardif-mai-2026\/\"\/>\n<meta property=\"og:site_name\" content=\"Endurance Groupe Immobilier\"\/>\n<meta property=\"og:image\" content=\"https:\/\/enduranceimmobilier.com\/images\/indice-tardif-mai-2026-1200x630.jpg\"\/>\n<meta property=\"article:published_time\" content=\"2026-06-04T07:30:00-04:00\"\/>\n<meta property=\"article:author\" content=\"David Tardif\"\/>\n<meta property=\"article:section\" content=\"Tardif Index\"\/>\n<meta name=\"twitter:card\" content=\"summary_large_image\"\/>\n<meta name=\"twitter:title\" content=\"Tardif Index May 2026: Montreal in 1 Number\"\/>\n<meta name=\"twitter:description\" content=\"Balanced market at 50.3\/100, but supply is tightening. Explanations and numbers.\"\/>\n<meta name=\"twitter:image\" content=\"https:\/\/enduranceimmobilier.com\/images\/indice-tardif-mai-2026-1200x630.jpg\"\/>\n<link rel=\"canonical\" href=\"https:\/\/enduranceimmobilier.com\/indice-tardif\/indice-tardif-mai-2026\/\"\/>\n<link href=\"https:\/\/fonts.googleapis.com\/css2?family=Playfair+Display:ital,wght@0,400;0,700;1,400&#038;family=Syne:wght@400;600;700;800&#038;family=Inter:wght@300;400;500&#038;display=swap\" rel=\"stylesheet\"\/>\n<style>\n  :root {\n    --meleze: #599564;\n    --meleze-dark: #4E8057;\n    --meleze-light: rgba(89,149,100,0.1);\n    --crepuscule: #0B2340;\n    --eau-de-vie: #007CBB;\n    --tundra: #FFFFFF;\n    --ardoise: #131E29;\n    --ardoise-2: #162232;\n    --ardoise-3: #1c2d3e;\n    --text-body: rgba(255,255,255,0.68);\n    --text-muted: rgba(255,255,255,0.38);\n    --border: rgba(255,255,255,0.07);\n    --border-mid: rgba(255,255,255,0.12);\n  }\n  *, *::before, *::after { margin: 0; padding: 0; box-sizing: border-box; }\n  html { scroll-behavior: smooth; overflow-x: hidden; }\n  body { font-family: 'Inter', sans-serif; background: var(--ardoise); color: var(--text-body); font-size: 16px; line-height: 1.8; -webkit-font-smoothing: antialiased; overflow-x: hidden; max-width: 100vw; }\n\n  \/* \u2500\u2500 HERO \u2500\u2500 *\/\n  .hero { position: relative; padding: 80px 0 0; overflow: hidden;padding:100px; }\n  .hero-bg {\n    position: absolute; inset: 0;\n    background:\n      radial-gradient(ellipse 50% 70% at 90% 10%, rgba(89,149,100,0.07) 0%, transparent 55%),\n      repeating-linear-gradient(90deg, transparent, transparent 79px, rgba(255,255,255,0.02) 79px, rgba(255,255,255,0.02) 80px);\n    pointer-events: none;\n  }\n  .hero-inner { max-width: 1140px; margin: 0 auto; padding: 0 40px; position: relative; z-index: 1; }\n  .hero-eyebrow { display: inline-flex; align-items: center; gap: 10px; font-family: 'Syne', sans-serif; font-size: 11px; font-weight: 700; letter-spacing: 0.18em; text-transform: uppercase; color: var(--meleze); margin-bottom: 32px; }\n  .hero-eyebrow::before { content: ''; display: block; width: 32px; height: 1px; background: var(--meleze); }\n\n  .hero h1 { font-family: 'Playfair Display', serif; font-size: clamp(32px, 4.5vw, 56px); font-weight: 700; line-height: 1.12; color: var(--tundra); max-width: 800px; margin-bottom: 28px; letter-spacing: -0.01em; }\n  .hero h1 em { font-style: italic; color: var(--meleze); }\n\n  \/* Score display in hero *\/\n  .hero-score-row {\n    display: flex;\n    align-items: center;\n    gap: 20px;\n    margin-bottom: 28px;\n    flex-wrap: wrap;\n  }\n  .hero-score {\n    font-family: 'Playfair Display', serif;\n    font-size: 64px;\n    line-height: 1;\n    color: var(--tundra);\n  }\n  .hero-score span { font-size: 28px; color: var(--text-muted); }\n  .hero-score-meta { display: flex; flex-direction: column; gap: 8px; }\n  .zone-badge {\n    display: inline-flex; align-items: center; gap: 8px;\n    background: rgba(89,149,100,0.14); border: 1px solid rgba(89,149,100,0.3);\n    color: var(--meleze); font-family: 'Syne', sans-serif; font-size: 12px; font-weight: 700;\n    letter-spacing: 0.08em; padding: 6px 14px; border-radius: 100px;\n  }\n  .zone-dot { width: 7px; height: 7px; border-radius: 50%; background: var(--meleze); }\n  .score-date { font-size: 12px; color: var(--text-muted); letter-spacing: 0.04em; }\n\n  .hero-intro {\n    display: grid; grid-template-columns: 1fr 340px; gap: 64px;\n    align-items: start; padding-bottom: 56px; border-bottom: 1px solid var(--border);\n  }\n  .hero-intro-lede {\n    background: var(--ardoise-2);\n    border: 1px solid var(--border-mid);\n    border-left: 3px solid var(--meleze);\n    border-radius: 10px;\n    padding: 20px 22px;\n    font-size: 15.5px;\n    color: rgba(255,255,255,0.72);\n    line-height: 1.78;\n    margin-bottom: 0;\n  }\n  .hero-intro-lede strong { color: var(--tundra); }\n\n  .hero-card { background: var(--ardoise-3); border: 1px solid var(--border-mid); border-radius: 16px; padding: 28px; position: sticky; top: 32px; }\n  .hero-card-label { font-family: 'Syne', sans-serif; font-size: 10px; font-weight: 700; letter-spacing: 0.15em; text-transform: uppercase; color: var(--text-muted); margin-bottom: 18px; }\n  .toc-items { list-style: none; }\n  .toc-items li { border-top: 1px solid var(--border); }\n  .toc-items li:first-child { border-top: none; }\n  .toc-items a { display: flex; align-items: center; justify-content: space-between; padding: 10px 0; font-size: 13px; color: var(--text-body); text-decoration: none; gap: 8px; transition: color .15s; }\n  .toc-items a:hover { color: var(--tundra); }\n  .toc-items a::after { content: '\u2193'; font-size: 11px; color: var(--text-muted); flex-shrink: 0; }\n  .toc-cta { margin-top: 18px; padding-top: 18px; border-top: 1px solid var(--border); }\n  .btn-primary { display: block; width: 100%; background: var(--meleze); color: white!important; text-decoration: none; font-family: 'Syne', sans-serif; font-size: 12px; font-weight: 700; letter-spacing: 0.07em; padding: 13px 18px; border-radius: 8px; text-align: center; transition: background .15s, transform .1s; }\n  .btn-primary:hover { background: var(--meleze-dark); transform: translateY(-1px); }\n\n  \/* \u2500\u2500 PAGE BODY \u2500\u2500 *\/\n  .page-body { max-width: 1140px; margin: 0 auto; padding: 0 40px 100px; display: grid; grid-template-columns: 1fr 280px; gap: 80px; align-items: start; }\n\n  .sidebar { position: sticky; top: 32px; padding-top: 64px; display: flex; flex-direction: column; gap: 16px; }\n  .sidebar-card { background: linear-gradient(145deg, var(--ardoise-3), var(--crepuscule)); border: 1px solid rgba(0,124,187,0.18); border-radius: 16px; padding: 26px; }\n  .sidebar-badge { display: inline-flex; align-items: center; gap: 6px; font-family: 'Syne', sans-serif; font-size: 10px; font-weight: 700; letter-spacing: 0.1em; text-transform: uppercase; color: var(--meleze); background: var(--meleze-light); border: 1px solid rgba(89,149,100,0.22); padding: 4px 10px; border-radius: 100px; margin-bottom: 14px; }\n  .sidebar-card p { font-size: 13.5px; color: var(--text-body); line-height: 1.7; margin-bottom: 16px; }\n\n  \/* \u2500\u2500 CONTENT \u2500\u2500 *\/\n  .content { padding-top: 64px; }\n  .content h2 { font-family: 'Playfair Display', serif; font-size: clamp(22px, 2.8vw, 32px); font-weight: 700; color: var(--tundra); line-height: 1.2; margin-bottom: 22px; padding-top: 68px; position: relative; }\n  .content h2::before { content: attr(data-num); position: absolute; top: 64px; left: -48px; font-family: 'Syne', sans-serif; font-size: 10px; font-weight: 700; color: var(--meleze); letter-spacing: 0.1em; opacity: 0.65; }\n  .content h3 { font-family: 'Syne', sans-serif; font-size: 13.5px; font-weight: 700; letter-spacing: 0.06em; color: var(--tundra); text-transform: uppercase; margin-top: 40px; margin-bottom: 16px; display: flex; align-items: center; gap: 12px; }\n  .content h3::before { content: ''; display: block; width: 18px; height: 2px; background: var(--meleze); flex-shrink: 0; }\n  .content p { font-size: 15.5px; color: var(--text-body); line-height: 1.85; margin-bottom: 16px; }\n  .content p:last-child { margin-bottom: 0; }\n  .content a { color: var(--tundra); text-decoration: none; border-bottom: 1px solid rgba(89,149,100,0.45); padding-bottom: 1px; transition: color .15s, border-color .15s; }\n  .content a:hover { color: var(--meleze); border-color: var(--meleze); }\n  .content strong { color: var(--tundra); font-weight: 600; }\n  .content em { font-style: italic; }\n\n  .section-divider { display: flex; align-items: center; gap: 14px; margin: 52px 0 0; }\n  .section-divider::before, .section-divider::after { content: ''; flex: 1; height: 1px; background: var(--border); }\n  .section-divider span { width: 5px; height: 5px; border-radius: 50%; background: var(--meleze); flex-shrink: 0; }\n\n  \/* \u2500\u2500 COMPOSANTES 40\/30\/30 \u2500\u2500 *\/\n  .composantes-grid { display: grid; grid-template-columns: repeat(3, 1fr); gap: 12px; margin: 24px 0 28px; }\n  .comp-card { background: var(--ardoise-2); border: 1px solid var(--border-mid); border-radius: 12px; padding: 20px; }\n  .comp-weight { font-family: 'Syne', sans-serif; font-size: 10px; font-weight: 700; letter-spacing: 0.1em; text-transform: uppercase; color: var(--text-muted); margin-bottom: 8px; }\n  .comp-val { font-family: 'Playfair Display', serif; font-size: 28px; color: var(--tundra); margin-bottom: 4px; }\n  .comp-label { font-size: 12px; color: var(--text-muted); line-height: 1.5; }\n\n  \/* \u2500\u2500 TABLE \u2500\u2500 *\/\n  .table-wrap { margin: 22px 0 8px; overflow-x: auto; -webkit-overflow-scrolling: touch; max-width: 100%; }\n  .table-wrap table { min-width: 500px; }\n  table { width: 100%; border-collapse: collapse; font-size: 13.5px; }\n  thead th { text-align: left; font-size: 10px; font-weight: 700; letter-spacing: 0.1em; text-transform: uppercase; color: var(--text-muted); padding: 0 14px 12px; border-bottom: 1px solid var(--border); }\n  tbody tr { border-bottom: 1px solid rgba(255,255,255,0.04); transition: background .12s; }\n  tbody tr:hover { background: rgba(255,255,255,0.03); }\n  tbody td { padding: 12px 14px; color: rgba(255,255,255,0.75); }\n  tbody td:first-child { font-weight: 500; color: var(--tundra); }\n  figcaption { font-size: 12px; color: var(--text-muted); margin-top: 10px; line-height: 1.6; }\n\n  \/* \u2500\u2500 IMMEUBLE \u00c0 REVENUS CARD \u2500\u2500 *\/\n  .revenus-card {\n    background: var(--ardoise-2);\n    border: 1px solid var(--border-mid);\n    border-radius: 12px;\n    padding: 22px 24px;\n    margin: 24px 0;\n    display: grid;\n    grid-template-columns: 1fr 1fr;\n    gap: 20px;\n  }\n  .rev-stat .rv { font-family: 'Playfair Display', serif; font-size: 26px; color: var(--tundra); }\n  .rev-stat .rl { font-size: 12px; color: var(--text-muted); text-transform: uppercase; letter-spacing: 0.06em; }\n\n  \/* \u2500\u2500 FORCES GRID \u2500\u2500 *\/\n  .forces-grid { display: grid; grid-template-columns: 1fr 1fr; gap: 12px; margin: 22px 0 28px; }\n  .force-card { background: var(--ardoise-2); border: 1px solid var(--border-mid); border-radius: 10px; padding: 18px 20px; }\n  .force-card h4 { font-family: 'Syne', sans-serif; font-size: 11px; font-weight: 700; letter-spacing: 0.08em; text-transform: uppercase; color: var(--meleze); margin-bottom: 8px; }\n  .force-card p { font-size: 13.5px; color: rgba(255,255,255,0.62); line-height: 1.7; margin: 0; }\n  .force-card p strong { color: var(--tundra); }\n\n  \/* \u2500\u2500 PULL QUOTE \u2500\u2500 *\/\n  .pull { font-family: 'Playfair Display', serif; font-size: 19px; font-style: italic; color: rgba(255,255,255,0.48); line-height: 1.65; padding: 26px 0 26px 26px; border-left: 2px solid var(--meleze); margin: 30px 0; }\n\n  \/* \u2500\u2500 FAQ \u2500\u2500 *\/\n  .faq-item { border-bottom: 1px solid var(--border); padding: 24px 0; }\n  .faq-item:first-child { border-top: 1px solid var(--border); }\n  .faq-q { font-family: 'Playfair Display', serif; font-size: 17px; font-weight: 700; color: var(--tundra); line-height: 1.4; margin-bottom: 10px; }\n  .faq-a { font-size: 15px; color: var(--text-body); line-height: 1.82; }\n\n  \/* \u2500\u2500 DISCLAIMER \/ SIGNATURE \u2500\u2500 *\/\n  .disclaimer { background: rgba(255,255,255,0.02); border: 1px solid var(--border); border-radius: 10px; padding: 16px 20px; margin: 32px 0 16px; font-size: 13px; color: rgba(255,255,255,0.38); line-height: 1.75; font-style: italic; }\n  .signature { font-size: 13px; color: var(--text-muted); line-height: 1.7; }\n  .signature a { color: var(--meleze); border-bottom: none; }\n\n  \/* \u2500\u2500 RESPONSIVE \u2500\u2500 *\/\n  @media (max-width: 900px) {\n    .hero-intro { grid-template-columns: 1fr; }\n    .hero-card { position: static; }\n    .page-body { grid-template-columns: 1fr; gap: 0; padding: 0 16px 80px; }\n    .sidebar { display: none; }\n    .hero-inner { padding: 0 16px; }\n    .content h2::before { display: none; }\n    .composantes-grid { grid-template-columns: 1fr; }\n    .forces-grid { grid-template-columns: 1fr; }\n    .revenus-card { grid-template-columns: 1fr; }\n    .hero-score { font-size: 48px; }\n    .hero-score-row { gap: 12px; }\n    .hero { padding: 48px 0 0; }\n    .content { padding-top: 40px; }\n    .content h2 { padding-top: 48px; }\n    .content h2::before { top: 44px; }\n  }\n<\/style>\n\n\n\n<div class=\"hero\">\n  <div class=\"hero-bg\"><\/div>\n  <div class=\"hero-inner\">\n    <div class=\"hero-eyebrow\">Monthly Edition \u00b7 May 2026<\/div>\n    <h1>The Tardif Index \u2014 May 2026: a <em>balanced<\/em> market, but under pressure on Montreal Island<\/h1>\n\n    <div class=\"hero-score-row\">\n      <div class=\"hero-score\">50.3<span>\/100<\/span><\/div>\n      <div class=\"hero-score-meta\">\n        <div class=\"zone-badge\"><span class=\"zone-dot\"><\/span>Balanced Zone<\/div>\n        <div class=\"score-date\">Published June 4, 2026 \u00b7 May 2026 Data<\/div>\n      <\/div>\n    <\/div>\n\n    <div class=\"hero-intro\">\n      <div class=\"hero-intro-lede\">\n        <strong>In brief:<\/strong> in May 2026, the Tardif Index stands at 50.3 out of 100 \u2014 the balanced zone. Neither buyers nor sellers have the advantage. But behind this quiet number, a more interesting dynamic is emerging: demand is holding steady while supply is tightening.  \n      <\/div>\n      <div class=\"hero-card\">\n        <div class=\"hero-card-label\">In This Article<\/div>\n        <ul class=\"toc-items\">\n          <li><a href=\"#balancoire\">Which Way Is the Market Leaning?<\/a><\/li>\n          <li><a href=\"#chiffre\">The May 2026 Number<\/a><\/li>\n          <li><a href=\"#ingredients\">The Three Ingredients<\/a><\/li>\n          <li><a href=\"#categories\">Breakdown by Category<\/a><\/li>\n          <li><a href=\"#contexte\">Economic Context<\/a><\/li>\n          <li><a href=\"#retenir\">Key Takeaways<\/a><\/li>\n          <li><a href=\"#methodologie\">Methodology<\/a><\/li>\n          <li><a href=\"#faq\">Frequently Asked Questions<\/a><\/li>\n        <\/ul>\n        <div class=\"toc-cta\">\n          <a href=\"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/methodology\/\" class=\"btn-primary\">View Methodology<\/a>\n        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n<div class=\"page-body\">\n  <article class=\"content\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/Article\">\n\n    <div id=\"balancoire\">\n      <h2 data-num=\"01\">Which Way Is the Market Leaning?<\/h2>\n      <p>Before the numbers, the basic idea. A real estate market is a seesaw between those who want to buy and those who want to sell. When buyers are plentiful and properties scarce, the seesaw tilts toward sellers: prices rise, properties sell quickly. When it&#8217;s the opposite, it tilts toward buyers: prices slow down, negotiation is possible. And in between, there&#8217;s balance.    <\/p>\n      <p>The Tardif Index summarizes which way this seesaw is tilting in a single number, from 0 to 100. The closer to 0, the more buyers have the upper hand; the closer to 100, the more it&#8217;s sellers. The middle, around 50, is balance.  <\/p>\n    <\/div>\n\n    <div class=\"section-divider\"><span><\/span><\/div>\n\n    <div id=\"chiffre\">\n      <h2 data-num=\"02\">The May 2026 Number: 50.3<\/h2>\n      <p>This month, the needle is at <strong>50.3<\/strong> \u2014 right in the heart of the balanced zone. On paper, a calm market. <\/p>\n      <p>But &#8220;calm&#8221; doesn&#8217;t tell the whole story. Beneath this 50.3, two forces are pulling against each other. On one side, demand remains solid: people still want to buy, and what sells, sells at a good pace. On the other, fewer and fewer properties are being listed \u2014 new listings are down about 7% compared to last year. Supply is quietly tightening.    <\/p>\n\n      <div class=\"pull\">The image: a buffet where there are still just as many hungry people, but where dishes have started being removed from the table. For now, everyone is still eating. But it&#8217;s supply \u2014 not demand \u2014 that will decide what comes next.  <\/div>\n    <\/div>\n\n    <div class=\"section-divider\"><span><\/span><\/div>\n\n    <div id=\"ingredients\">\n      <h2 data-num=\"03\">Where Does This Number Come From? The Three Ingredients <\/h2>\n      <p>The Tardif Index combines three measures, weighted 40\/30\/30. Here&#8217;s each one, in simple terms. <\/p>\n\n      <div class=\"composantes-grid\">\n        <div class=\"comp-card\">\n          <div class=\"comp-weight\">40% \u00b7 Absorption<\/div>\n          <div class=\"comp-val\">59 %<\/div>\n          <div class=\"comp-label\">SNLR \u2014 sales-to-new-listings ratio. Leans slightly toward sellers. <\/div>\n        <\/div>\n        <div class=\"comp-card\">\n          <div class=\"comp-weight\">30% \u00b7 Expirations<\/div>\n          <div class=\"comp-val\">21,3 %<\/div>\n          <div class=\"comp-label\">Share of listings without takers. Moderate \u2014 neutral signal. <\/div>\n        <\/div>\n        <div class=\"comp-card\">\n          <div class=\"comp-weight\">30% \u00b7 Momentum<\/div>\n          <div class=\"comp-val\">\u22123.2%<\/div>\n          <div class=\"comp-label\">Sales vs. same month last year. The market is moving slightly slower. <\/div>\n        <\/div>\n      <\/div>\n\n      <h3>1. Is It Selling? (40 %)<\/h3>\n      <p>We compare the number of properties sold to the number of new properties listed. The technical term is the <em>sales-to-new-listings ratio<\/em>, or SNLR. In May, it&#8217;s at <strong>59%<\/strong>: for every 100 newly listed properties, the equivalent of 59 sales. That&#8217;s a healthy pace, leaning slightly toward sellers.   <\/p>\n\n      <h3>2. Are Properties Giving Up? (30 %)<\/h3>\n      <p>When a property remains listed for months without finding a buyer, the seller sometimes withdraws the listing. This is called an <em>expiration<\/em>. A high expiration rate signals a soft market, favorable to buyers. In May, this ratio is <strong>21.3%<\/strong>.   <\/p>\n\n      <h3>3. Are We Speeding Up or Slowing Down? (30 %)<\/h3>\n      <p>We compare this month&#8217;s sales volume with the same month last year \u2014 the <em>annual momentum<\/em>. Like a car: driving at 100 km\/h while accelerating isn&#8217;t the same as at 100 km\/h while braking. In May, momentum is <strong>\u22123.2%<\/strong>: the market is moving slightly slower than a year ago.  <\/p>\n    <\/div>\n\n    <div class=\"section-divider\"><span><\/span><\/div>\n\n    <div id=\"categories\">\n      <h2 data-num=\"04\">Breakdown by Category<\/h2>\n      <p>The index goes down to property type and borough. Here are the main categories for May 2026, on Montreal Island. <\/p>\n\n      <div class=\"table-wrap\">\n        <figure>\n          <table>\n            <thead>\n              <tr>\n                <th>Category<\/th>\n                <th>Sales<\/th>\n                <th>Median Price<\/th>\n                <th>Median Time<\/th>\n                <th>Negotiation<\/th>\n              <\/tr>\n            <\/thead>\n            <tbody>\n              <tr><td>Condominium<\/td><td>777<\/td><td>$480,000<\/td><td>46 days<\/td><td>98.0%<\/td><\/tr>\n              <tr><td>Single-Family<\/td><td>431<\/td><td>$779,000<\/td><td>37 days<\/td><td>98.0%<\/td><\/tr>\n              <tr><td>Duplex<\/td><td>135<\/td><td>$850,000<\/td><td>42 days<\/td><td>98.8%<\/td><\/tr>\n              <tr><td>Triplex<\/td><td>80<\/td><td>$950,000<\/td><td>45 days<\/td><td>96.8%<\/td><\/tr>\n              <tr><td>4-plex<\/td><td>33<\/td><td>$1,060,000<\/td><td>58 days<\/td><td>96.4%<\/td><\/tr>\n            <\/tbody>\n          <\/table>\n          <figcaption>Medians calculated on the month&#8217;s firm sales, bounded at extremes to prevent a handful of outlier transactions from distorting the picture.<\/figcaption>\n        <\/figure>\n      <\/div>\n\n      <p>The &#8220;negotiation ratio&#8221; is the median sale price relative to the last asking price. At approximately <strong>98%<\/strong>, it indicates that sellers whose price is aligned with comparables obtain most of their expectations. <\/p>\n\n      <h3>Multi-Unit Buildings (5 and More)<\/h3>\n      <p>For a large building, the total price doesn&#8217;t mean much: a 5-unit and a 20-unit aren&#8217;t comparable. So we use the <em>price per door<\/em> \u2014 the price divided by the number of units. In May, across 33 firm sales of five units and more, the median price per door stands at <strong>$219,893<\/strong>, and the gross rent multiplier (the price relative to the building&#8217;s revenues) at <strong>16.72x<\/strong>.  <\/p>\n\n      <div class=\"revenus-card\">\n        <div class=\"rev-stat\">\n          <div class=\"rv\">$219,893<\/div>\n          <div class=\"rl\">Median Price per Door \u00b7 5 Units and More<\/div>\n        <\/div>\n        <div class=\"rev-stat\">\n          <div class=\"rv\">16.72x<\/div>\n          <div class=\"rl\">Gross Rent Multiplier (GRM) \u00b7 May 2026<\/div>\n        <\/div>\n      <\/div>\n    <\/div>\n\n    <div class=\"section-divider\"><span><\/span><\/div>\n\n    <div id=\"contexte\">\n      <h2 data-num=\"05\">What Moves the Market: Economic Context<\/h2>\n      <p>The index measures the market&#8217;s temperature. But what heats or cools the room? Five forces.  <\/p>\n\n      <div class=\"forces-grid\">\n        <div class=\"force-card\">\n          <h4>Interest Rates<\/h4>\n          <p>The Bank of Canada maintains its policy rate at <strong>2.25%<\/strong>. A 5-year fixed mortgage rate hovers around 4%. At this level, borrowing remains affordable.  <\/p>\n        <\/div>\n        <div class=\"force-card\">\n          <h4>Employment<\/h4>\n          <p>Unemployment at <strong>6.2% in Quebec<\/strong> and <strong>7.7% in Montreal<\/strong> \u2014 its highest since 2016 outside the pandemic. Demand is becoming more cautious. <\/p>\n        <\/div>\n        <div class=\"force-card\">\n          <h4>GDP and Inflation<\/h4>\n          <p>Growth of approximately <strong>1.2%<\/strong> \u2014 neither recession nor euphoria. Inflation at <strong>2.4%<\/strong>, under control. No shock to fear on the borrowing front in the near term.  <\/p>\n        <\/div>\n        <div class=\"force-card\">\n          <h4>Population<\/h4>\n          <p>Permanent immigration reduced to ~45,000 admissions. Montreal continues to lose residents to the regions. The tailwind that was pushing Montreal demand is weakening.  <\/p>\n        <\/div>\n      <\/div>\n\n      <h3>Interest Rates<\/h3>\n      <p>This is the most powerful lever. The Bank of Canada maintains its policy rate at <strong>2.25%<\/strong>, and a 5-year fixed mortgage rate hovers around 4%. At this level, borrowing remains affordable: rates are supporting demand rather than stifling it. Rates don&#8217;t set the price of a house, but they decide how much house you can afford.   <\/p>\n\n      <h3>Employment<\/h3>\n      <p>To buy, you need stable income and confidence it will last. In April 2026, the unemployment rate reached <strong>6.2% in Quebec<\/strong> and <strong>7.7% in the Montreal region<\/strong> \u2014 its highest level since 2016, excluding the pandemic period. When unemployment rises like this, demand doesn&#8217;t disappear, but it becomes more cautious.  <\/p>\n\n      <h3>GDP and Inflation<\/h3>\n      <p>The economy is growing at approximately 1.2% \u2014 a sluggish pace, neither recession nor euphoria. Inflation, at 2.4%, is under control, which is good news for real estate: as long as it remains calm, the Bank of Canada has no reason to sharply raise rates. No shock to fear on the borrowing front in the near term.  <\/p>\n\n      <h3>Population<\/h3>\n      <p>The more people there are, the more housing demand there is. Three movements are now going in the same direction. Quebec is targeting reduced permanent immigration, around 45,000 admissions per year, and is more tightly regulating temporary immigration. In parallel, internal movements are disadvantaging major centers: in 2024-2025, 182,500 people changed administrative regions in Quebec, and Montreal and Laval continue to lose residents to the regions. The tailwind that was pushing Montreal demand is weakening.    <\/p>\n    <\/div>\n\n    <div class=\"section-divider\"><span><\/span><\/div>\n\n    <div id=\"retenir\">\n      <h2 data-num=\"06\">What Should We Take Away?<\/h2>\n      <p>A solid floor \u2014 reasonable rates, calm inflation \u2014 prevents the market from falling. But three caution signals \u2014 rising unemployment, a slowing economy, demand whose drivers are closing \u2014 prevent it from overheating. <\/p>\n      <p>The result isn&#8217;t a crash. It&#8217;s a more <strong>selective<\/strong> market: demand still exists, but it&#8217;s more cautious, more price-sensitive, more demanding about the actual quality of the product. The decent property, well-located, well-priced, still sells very well. The average property with too ambitious a price waits.   <\/p>\n\n      <div class=\"pull\">To watch in upcoming editions: if the decline in new listings continues, the pressure could shift the index toward the seller zone. The Tardif Index doesn&#8217;t predict this shift \u2014 it will signal it, month after month, if it occurs. <\/div>\n    <\/div>\n\n    <div class=\"section-divider\"><span><\/span><\/div>\n\n    <div id=\"methodologie\">\n      <h2 data-num=\"07\">Methodology in Brief<\/h2>\n      <p>The Tardif Index is a weekly and monthly indicator of transactional conditions in Montreal Island&#8217;s residential market \u2014 the 19 boroughs and 15 linked cities. It combines three components weighted 40\/30\/30 (sales-to-new-listings, expirations, annual momentum) into a score from 0 to 100. Sales are counted based on the month&#8217;s firm sales, the majority of which are not yet notarized: this basis reflects the current market rather than a delayed picture. Medians by segment are only published above ten transactions. The <a href=\"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/methodology\/\">complete methodology is published here<\/a>. The indicator is complementary to the Centris HPI and APCIQ statistics.     <\/p>\n    <\/div>\n\n    <div class=\"section-divider\"><span><\/span><\/div>\n\n    <div id=\"faq\">\n      <h2 data-num=\"08\">Frequently Asked Questions<\/h2>\n\n      <div class=\"faq-item\">\n        <div class=\"faq-q\">Does Montreal&#8217;s market favor buyers or sellers in May 2026?<\/div>\n        <div class=\"faq-a\">Neither in a marked way. At 50.3 out of 100, the market is in the balanced zone. The nuance: supply is tightening (new listings down about 7% year-over-year), which could, over time, tip the balance toward sellers.  <\/div>\n      <\/div>\n      <div class=\"faq-item\">\n        <div class=\"faq-q\">What does a score of 50.3 mean?<\/div>\n        <div class=\"faq-a\">The score ranges from 0 (market strongly favoring buyers) to 100 (strongly favoring sellers). Between 41 and 60, we&#8217;re talking about the balanced zone: neither buyers nor sellers have a clear advantage. <\/div>\n      <\/div>\n      <div class=\"faq-item\">\n        <div class=\"faq-q\">Which cities are covered by the Tardif Index?<\/div>\n        <div class=\"faq-a\">The territory of Montreal Island: the 19 boroughs of the City of Montreal and the 15 linked cities.<\/div>\n      <\/div>\n      <div class=\"faq-item\">\n        <div class=\"faq-q\">What is the difference between the Tardif Index and the Centris HPI?<\/div>\n        <div class=\"faq-a\">The Centris HPI primarily measures price trends. The Tardif Index measures the balance of power between supply and demand \u2014 transactional conditions \u2014 and goes down to the borough level. Both are complementary.  <\/div>\n      <\/div>\n\n      <div class=\"disclaimer\">\n The Tardif Index is a statistical indicator of transactional conditions observed on Montreal Island. It does not constitute a value opinion, a comparative market analysis as defined by OACIQ regulations, or professional advice on a specific property. For any purchase, sale, or listing decision, consult a real estate broker registered with OACIQ who will conduct an analysis tailored to your situation and the property in question.  \n      <\/div>\n      <p class=\"signature\">Published by <a href=\"https:\/\/enduranceimmobilier.com\/a-propos\/\">Endurance Groupe Immobilier<\/a>, under the methodological responsibility of <a href=\"https:\/\/enduranceimmobilier.com\/en\/david-tardif\/\">David Tardif, real estate broker<\/a> registered with OACIQ.<\/p>\n    <\/div>\n\n  <\/article>\n\n  <aside class=\"sidebar\">\n    <div class=\"sidebar-card\">\n      <div class=\"sidebar-badge\">Tardif Index<\/div>\n      <p>Weekly and monthly indicator of transactional conditions in Montreal Island&#8217;s residential market \u2014 published by David Tardif, real estate broker.<\/p>\n      <a href=\"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/methodology\/\" class=\"btn-primary\">Complete Methodology<\/a>\n    <\/div>\n  <\/aside>\n\n<\/div>\n\n\n","protected":false},"excerpt":{"rendered":"<p>Tardif Index May 2026: Montreal&#8217;s Market in 1 Number Monthly Edition \u00b7 May 2026 The Tardif Index \u2014 May 2026: a balanced market, but under pressure on Montreal Island 50.3\/100 Balanced Zone Published June 4, 2026 \u00b7 May 2026 Data In brief: in May 2026, the Tardif Index stands at 50.3 out of 100 \u2014 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,37],"tags":[],"class_list":["post-7500","post","type-post","status-publish","format-standard","hentry","category-monthly","category-tardif-index"],"acf":{"it_snlr":"","it_score":"50,3","it_zone":"equilibre","it_semaine":"","it_mois":"","it_periode":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tardif Index May 2026: Montreal&#039;s Market in 1 Number - Endurance Groupe Immobilier par Tardif<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Tardif\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tardif Index May 2026: Montreal's Market in 1 Number - Endurance Groupe Immobilier par Tardif","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/","twitter_misc":{"Written by":"David Tardif","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/#article","isPartOf":{"@id":"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/"},"author":{"name":"David Tardif","@id":"https:\/\/enduranceimmobilier.com\/#\/schema\/person\/6213cef7a3d6961c4541b5abf2373c03"},"headline":"Tardif Index May 2026: Montreal&#8217;s Market in 1 Number","datePublished":"2026-06-08T09:34:51+00:00","dateModified":"2026-07-24T10:43:09+00:00","mainEntityOfPage":{"@id":"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/"},"wordCount":1536,"commentCount":0,"publisher":{"@id":"https:\/\/enduranceimmobilier.com\/#organization"},"articleSection":["monthly","tardif-index"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/","url":"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/","name":"Tardif Index May 2026: Montreal's Market in 1 Number - Endurance Groupe Immobilier par Tardif","isPartOf":{"@id":"https:\/\/enduranceimmobilier.com\/#website"},"datePublished":"2026-06-08T09:34:51+00:00","dateModified":"2026-07-24T10:43:09+00:00","breadcrumb":{"@id":"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enduranceimmobilier.com\/en\/tardif-index\/tardif-index-may-2026-montreals-market-in-1-number\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Accueil","item":"https:\/\/enduranceimmobilier.com\/en\/"},{"@type":"ListItem","position":2,"name":"Tardif Index May 2026: Montreal&rsquo;s Market in 1 Number"}]},{"@type":"WebSite","@id":"https:\/\/enduranceimmobilier.com\/#website","url":"https:\/\/enduranceimmobilier.com\/","name":"Endurance Groupe Immobilier par Tardif","description":"\u00c9quipe #1 Au Canada","publisher":{"@id":"https:\/\/enduranceimmobilier.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enduranceimmobilier.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enduranceimmobilier.com\/#organization","name":"Endurance Groupe Immobilier par Tardif","url":"https:\/\/enduranceimmobilier.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enduranceimmobilier.com\/#\/schema\/logo\/image\/","url":"https:\/\/enduranceimmobilier.com\/wp-content\/uploads\/2026\/07\/couleur-logo-Endurance-vertical-mention-2-scaled.png","contentUrl":"https:\/\/enduranceimmobilier.com\/wp-content\/uploads\/2026\/07\/couleur-logo-Endurance-vertical-mention-2-scaled.png","width":2560,"height":2149,"caption":"Endurance Groupe Immobilier par Tardif"},"image":{"@id":"https:\/\/enduranceimmobilier.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/endurancegroupeimmobilier?locale=fr_FR"]},{"@type":"Person","@id":"https:\/\/enduranceimmobilier.com\/#\/schema\/person\/6213cef7a3d6961c4541b5abf2373c03","name":"David Tardif","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/e56dac67e136414f65c88a8b77899e5cc5118ac47751b73393edd00e1e82aff3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/e56dac67e136414f65c88a8b77899e5cc5118ac47751b73393edd00e1e82aff3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e56dac67e136414f65c88a8b77899e5cc5118ac47751b73393edd00e1e82aff3?s=96&d=mm&r=g","caption":"David Tardif"},"url":"https:\/\/enduranceimmobilier.com\/en\/author\/davidequipetardif-com\/"}]}},"_links":{"self":[{"href":"https:\/\/enduranceimmobilier.com\/en\/wp-json\/wp\/v2\/posts\/7500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enduranceimmobilier.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enduranceimmobilier.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enduranceimmobilier.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/enduranceimmobilier.com\/en\/wp-json\/wp\/v2\/comments?post=7500"}],"version-history":[{"count":1,"href":"https:\/\/enduranceimmobilier.com\/en\/wp-json\/wp\/v2\/posts\/7500\/revisions"}],"predecessor-version":[{"id":7501,"href":"https:\/\/enduranceimmobilier.com\/en\/wp-json\/wp\/v2\/posts\/7500\/revisions\/7501"}],"wp:attachment":[{"href":"https:\/\/enduranceimmobilier.com\/en\/wp-json\/wp\/v2\/media?parent=7500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enduranceimmobilier.com\/en\/wp-json\/wp\/v2\/categories?post=7500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enduranceimmobilier.com\/en\/wp-json\/wp\/v2\/tags?post=7500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}