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 year-over-year. However, when adjusted for seasonal factors, sales saw a 0.5% rise compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national headline figures, real estate markets across Canada are gradually heading towards a more balanced state. The average selling price of a home in July stood at $674,819, reflecting a modest 0.2% increase from the previous year.
New listings in July experienced a 1.6% decrease compared to the previous month, indicating some adjustment in market activity.
