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, showing a 5.3% decline year-over-year. However, on a seasonally adjusted basis, there was a 0.5% rise in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national headline figures, real estate markets across the country are gradually moving towards equilibrium. The average selling price of a home in July was $674,819, reflecting a 0.2% increase from the same period last year.
Moreover, new listings in July saw a month-over-month decrease of 1.6%, indicating a potential shift in market dynamics.