In July, Canadian home sales experienced a decline compared to the same period last year but saw a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). Total home sales for the month reached 43,578, reflecting a 5.3% drop year-over-year. However, when seasonally adjusted, there was a 0.5% rise in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national figures, real estate markets across the country are gradually moving back towards equilibrium. The average selling price of a home in July was $674,819, showing a modest 0.2% increase from the previous year.
Moreover, CREA highlighted a 1.6% decrease in new listings in July compared to the previous month. This trend suggests ongoing dynamics in the Canadian housing market as it navigates shifting conditions and demand patterns.