Home sales in July experienced a decrease compared to the same period last year but showed a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). The total number of home sales in the past month was 43,578, reflecting a 5.3% decline from the prior year. However, when adjusted for seasonal variations, there was a 0.5% rise in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national statistics, real estate markets across the country are generally trending towards a more balanced state. The average selling price of a home in July stood at $674,819, marking a 0.2% increase on a year-over-year basis.
In terms of new listings, CREA reported a 1.6% decrease in July compared to the previous month, indicating a potential shift in market dynamics.