In July, home sales saw a decrease from the previous year but showed a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). Total home sales for the month reached 43,578, marking a 5.3% decline compared to the same period last year. However, on a seasonally adjusted basis, there was a 0.5% uptick 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 gradually moving towards a state of equilibrium. The average selling price of a home in Canada in July stood at $674,819, reflecting a modest 0.2% increase year-over-year.
In terms of new listings, CREA reported a 1.6% decrease in July compared to the previous month. This trend suggests a shifting landscape within the housing market as it continues to adjust to evolving conditions.
