In July, the Canadian Real Estate Association (CREA) reported a slight increase in home sales compared to the previous month but a decline from the same period last year. The total number of home sales for the month was 43,578, indicating a 5.3% decrease 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, various markets in the country are gradually moving towards a more balanced state. The average selling price of a home in July stood at $674,819, marking a 0.2% increase from the previous year.
Additionally, CREA highlighted that new listings in July experienced a 1.6% decrease compared to the previous month. This trend suggests ongoing dynamics in the Canadian housing market.
