The Canadian Real Estate Association reports a decrease in home sales for August compared to the previous year, with ongoing economic uncertainties posing a threat to the housing market’s momentum for the rest of the year. In August, there were 37,504 home sales, marking a 6.9% decline from the same period in 2025. Activity decreased by 0.7% on a seasonally adjusted basis when compared to July of this year.
CREA’s senior economist, Shaun Cathcart, attributes the weakened economic landscape to mounting inflation risks and the potential for interest rate hikes, which may impact sales levels. The national average selling price of homes in August stood at $668,219, reflecting a 0.6% increase year-over-year.
In terms of new listings, CREA notes a 3.3% month-over-month rise in August, breaking a streak of three consecutive declines seen earlier in the summer.
