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. The total number of home sales for the month was 43,578, marking a 5.3% decline from the previous year. However, on a seasonally adjusted basis, there was a 0.5% increase 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 a more balanced state. The average selling price of a home in July was $674,819, showing a modest 0.2% increase from the previous year.
Additionally, CREA highlighted a 1.6% decrease in new listings in July compared to the previous month, indicating a potential shift in market dynamics.