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 from the same period last year. However, on a seasonally adjusted basis, there was a 0.5% rise in activity compared to June 2026.
According to CREA senior economist Shaun Cathcart, beneath the national headline figures, real estate markets across the country are generally trending towards a more balanced state. The national average sale price of a home in July was $674,819, showing a modest 0.2% increase from the previous year.
CREA also noted a 1.6% decrease in new listings in July compared to the previous month, indicating a potential shift in market dynamics.