In July, the Canadian Real Estate Association (CREA) reported a decrease in home sales compared to the same period last year but a slight increase from the previous month. Total home sales for the month reached 43,578, marking a 5.3% decline from the previous year. However, when seasonally adjusted, there was a 0.5% rise in activity compared to June 2026.
According to CREA senior economist Shaun Cathcart, beneath the national figures, real estate markets across the country are gradually moving towards a more balanced state. The average selling price of a home in July stood at $674,819, reflecting a modest 0.2% increase year-over-year.
New listings in July saw a 1.6% decrease compared to the previous month, as reported by CREA.