In August, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year, attributing it to emerging economic challenges that could hinder market growth for the rest of the year. The total number of home sales last month was 37,504, marking a 6.9% decline from August 2025. Adjusted for seasonal variations, sales activity dropped by 0.7% from July 2026.
According to Shaun Cathcart, CREA’s senior economist, the potential risks of rising inflation and looming interest rate increases have created economic uncertainties that may impact sales performance. The average selling price of a home in August was $668,219, showing a modest 0.6% increase year-over-year.
New property listings in August experienced a 3.3% month-over-month rise, breaking a three-month decreasing trend seen earlier in the summer.