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