Home sales in July showed a decline compared to the previous year, but saw a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). The total number of home sales in the last month amounted to 43,578, marking a 5.3% decrease from the previous year. However, when seasonally adjusted, there was a 0.5% rise in activity compared to June 2026.
According to CREA senior economist Shaun Cathcart, beneath the headline figures, real estate markets across the country are gradually moving towards a more balanced state. The national average selling price of a home in July stood at $674,819, reflecting a 0.2% increase on a year-over-year basis.
In terms of new listings, CREA noted a 1.6% decrease in July compared to the previous month. This trend indicates ongoing dynamics in the Canadian housing market.