In July, Canadian home sales experienced a slight increase from the previous month but were lower compared to the same period last year, as reported by the Canadian Real Estate Association (CREA). Total home sales for July reached 43,578, marking a 5.3% decline from the previous year. However, on a seasonally adjusted basis, there was a 0.5% rise in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national headline figures, real estate markets across the country are generally progressing towards a more balanced state. The average selling price of a home in July stood at $674,819, showing a modest 0.2% increase year-over-year.
Additionally, CREA highlighted a 1.6% decrease in new listings in July compared to the previous month, indicating a potential shift in market dynamics.