In August, the Canadian Real Estate Association reported a decline in home sales compared to the previous year, citing emerging economic challenges that may impede housing market growth for the rest of the year. Home sales for the month totaled 37,504, reflecting a 6.9% drop from August 2025. Seasonally adjusted, activity decreased by 0.7% from July. Shaun Cathcart, CREA’s senior economist, highlighted rising inflation risks and potential interest rate hikes as factors contributing to the weakened economic landscape, potentially impacting sales. The national average sale price of a home in August stood at $668,219, showing a modest 0.6% increase year-over-year. CREA also noted a 3.3% month-over-month rise in new listings for August, breaking a three-month decline trend earlier in the summer.
