In July, home sales in Canada decreased 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 the month reached 43,578, marking a 5.3% decline year over year. However, on a seasonally adjusted basis, sales were up by 0.5% compared to June 2026.
According to CREA senior economist Shaun Cathcart, beneath the national headline figures, real estate markets across the country are generally moving towards a more balanced state. The national average selling price of a home in July stood at $674,819, reflecting a 0.2% increase from the previous year.
CREA also noted a 1.6% decrease in new listings for July compared to the previous month, indicating a potential shift in market dynamics.