Home sales in July experienced a decrease compared to the previous year but showed a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). Total home sales for last month reached 43,578, marking a 5.3% decline from the same period last year. However, when adjusted for seasonal variations, there was a 0.5% rise in activity compared to June 2026.
According to CREA’s senior economist Shaun Cathcart, beneath the overarching national figures, real estate markets across Canada are gradually moving towards a more balanced state. The national average selling price of homes in July stood at $674,819, reflecting a modest 0.2% rise year-over-year.
In terms of new listings, CREA noted a 1.6% decrease in July compared to the previous month. This data suggests ongoing shifts in the Canadian real estate market landscape.