In July, home sales in Canada saw a decrease compared to the previous year but showed a slight increase from the month before, as reported by the Canadian Real Estate Association (CREA). Total home sales for the month reached 43,578, marking a 5.3% decline from the same period last year. However, on a seasonally adjusted basis, there was a 0.5% uptick in activity compared to June 2026.
According to Shaun Cathcart, a senior economist at CREA, the housing markets nationwide are gradually moving towards a more balanced state beneath the surface of the headline figures. The national average sale price of a home in July stood at $674,819, reflecting a modest 0.2% increase from the previous year.
The CREA noted a 1.6% decrease in new listings in July compared to the previous month, indicating a potential shift in market dynamics.