In August, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year, with ongoing economic challenges posing a threat to housing market growth for the rest of the year. Home sales for the month totaled 37,504, marking a 6.9% decline from August 2025. Seasonally adjusted, activity dropped by 0.7% from July 2026.
Shaun Cathcart, CREA’s senior economist, highlighted concerns over rising inflation and potential interest rate hikes, signaling a weakened economic landscape that may impact sales. The national average sale price of homes in August was $668,219, showing a modest 0.6% increase year-over-year.
Despite the dip in sales, CREA noted a 3.3% month-over-month rise in new listings for August, following three consecutive months of decline earlier in the summer.