Home sales in July experienced 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 the past month was 43,578, marking a 5.3% decline from the prior year. When adjusted for seasonal variations, sales activity rose by 0.5% in comparison to June 2026.
CREA’s senior economist, Shaun Cathcart, mentioned that beneath the national headline 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, showing a modest 0.2% rise year over year.
Additionally, CREA noted a 1.6% decrease in new listings in July compared to the previous month. This data suggests ongoing shifts in the housing market dynamics at a national level.
Overall, while there was a yearly decline in home sales, the month-on-month increase and the trend towards market equilibrium indicate a nuanced landscape in the Canadian real estate sector.