In August, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year, signaling potential challenges ahead for the housing market amid ongoing economic uncertainties. Total home sales for the month reached 37,504, marking a 6.9% decline from August 2025. Seasonally adjusted, activity dipped by 0.7% from July 2026.
Shaun Cathcart, CREA’s senior economist, highlighted concerns over mounting inflation risks and the looming prospect of interest rate hikes, factors that could impact sales performance negatively. The average national home sale price in August stood at $668,219, showing a modest 0.6% increase year-over-year.
August also saw a 3.3% rise in new listings compared to the previous month, breaking a three-month streak of declining listings earlier in the summer. This shift in new listings activity may influence market dynamics in the coming months.