Home sales in July showed a decrease compared to the previous year but saw a slight increase month over month, as reported by the Canadian Real Estate Association (CREA). Total home sales for the month stood at 43,578, marking a 5.3% decline from the prior year. However, when adjusted for seasonal variations, activity rose by 0.5% compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national headline figures, markets across the country are gradually moving towards a more balanced state. The national average selling price of a home in July was $674,819, reflecting a 0.2% year-over-year increase.
The CREA also highlighted a 1.6% decrease in new listings in July compared to the previous month, indicating a potential shift in market dynamics.
