In July, home sales in Canada saw a decrease compared to the previous year but showed a slight increase from the previous month, according to the latest data from 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 seasonally adjusted, there was a 0.5% uptick in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the overarching national figures, real estate markets across the country are gradually balancing out. The national average selling price of a home in July was $674,819, representing a 0.2% rise from the same period last year.
Additionally, CREA reported a 1.6% decrease in new listings in July compared to the previous month, indicating a potential shift in market dynamics.