In July, the Canadian Real Estate Association (CREA) reported a slight increase in home sales compared to the previous month but a decrease from the same period last year. Total home sales for the month reached 43,578, showing a 5.3% decline year-over-year. However, on a seasonally adjusted basis, sales rose by 0.5% from June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national figures, real estate markets across Canada are gradually moving towards a more balanced state. The average selling price for a home in July was $674,819, marking a modest 0.2% increase from the previous year.
Furthermore, new listings in July saw a 1.6% decrease compared to the previous month, indicating ongoing shifts in the housing market.