In July, home sales in Canada showed a decrease compared to the previous year but saw a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). The total number of home sales for the month was 43,578, marking a 5.3% decline from the same period last year. However, when adjusted for seasonal factors, there was a 0.5% uptick in activity compared to June 2026.
According to CREA senior economist Shaun Cathcart, while the national figures indicate a drop in sales, regional markets are steadily progressing towards a more stable state. The average selling price of homes in July stood at $674,819, reflecting a modest 0.2% rise on a year-over-year basis.
CREA also highlighted a 1.6% decrease in new listings for July compared to the previous month. This data suggests ongoing shifts in the Canadian real estate market, with various regions displaying movement towards equilibrium.