Home sales for July saw 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 July was 43,578, marking a 5.3% decline year-over-year. However, when adjusted for seasonal variations, there was a 0.5% rise in activity compared to June 2026.
According to CREA senior economist Shaun Cathcart, beneath the national headline figures, various markets in the country are moving towards a more balanced state. The average selling price of homes in July stood at $674,819, reflecting a modest 0.2% increase from the previous year.
In terms of new listings, CREA noted a 1.6% decrease in July compared to the previous month. This data suggests a shifting landscape in the real estate market across Canada.
