Home sales in July showed a decline compared to the previous year but saw a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). The total number of home sales in the last month reached 43,578, marking a 5.3% decrease year-over-year. However, on a seasonally adjusted basis, there was a 0.5% rise in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national headline figures, real estate markets across the country are moving towards a more balanced state. The national average selling price of homes in July was $674,819, reflecting a 0.2% increase from the same period last year.
Moreover, CREA reported a 1.6% decrease in new listings in July compared to the previous month. This data suggests ongoing dynamics within the housing market as it adjusts to changing conditions.
Overall, these numbers indicate a nuanced picture of the Canadian real estate landscape, showcasing both challenges and potential opportunities for buyers and sellers alike.