In July, home sales in Canada saw a decline compared to the same period last year but showed a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). Total home sales for July reached 43,578, marking a 5.3% decrease from the previous year. However, when adjusted for seasonal variations, there was a 0.5% rise in activity compared to June 2026.
According to CREA senior economist Shaun Cathcart, beneath the national headline figures, real estate markets across the country are gradually moving towards a more balanced state. The average selling price of a home in July was $674,819, reflecting a modest 0.2% increase on an annual basis.
The CREA noted a 1.6% decrease in new listings in July compared to the previous month, indicating some adjustments in the housing market.