In July, the Canadian Real Estate Association (CREA) reported a decrease in home sales compared to the previous year, but 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, on a seasonally adjusted basis, sales rose by 0.5% compared to June 2026.
According to CREA senior economist Shaun Cathcart, underlying the national figures, real estate markets across the country are generally progressing towards a more balanced state. The national average selling price for homes in July stood at $674,819, showing a modest 0.2% increase year-over-year.
The CREA also noted a 1.6% decrease in new listings in July compared to the previous month, indicating a potential shift in market dynamics.
