In August, the Canadian Real Estate Association reported a decline in home sales compared to the previous year amidst ongoing economic uncertainties that may hinder the housing market’s growth for the rest of the year. Total home sales for the month reached 37,504, reflecting a 6.9% decrease from August 2025. When adjusted for seasonal variations, activity dropped by 0.7% compared to July. Shaun Cathcart, CREA’s senior economist, noted that concerns over rising inflation and potential interest rate increases have contributed to a challenging economic landscape, potentially impacting sales.
The average national sale price for a home in August stood at $668,219, showing a modest 0.6% increase year-over-year. Additionally, CREA observed a 3.3% uptick in new listings in August compared to the previous month, breaking a streak of three consecutive declines seen earlier in the summer.
