In July, the Canadian Real Estate Association (CREA) reported a decrease in home sales compared to the previous year, although there was a slight increase from the previous month. Total home sales for the month reached 43,578, marking a 5.3% decline from the same period last year. However, when adjusted for seasonal variations, there was a 0.5% rise in activity compared to June 2026.
According to Shaun Cathcart, a senior economist at CREA, beneath the national sales figures, real estate markets across the country are generally moving closer to a state of equilibrium. The average selling price of a home in July stood at $674,819, showing a 0.2% increase year-over-year.
CREA noted a 1.6% decrease in new listings in July compared to the previous month.