In July, the Canadian Real Estate Association (CREA) reported a decrease in home sales compared to the previous year, but a slight increase from the previous month. Total home sales for the month reached 43,578, showing a 5.3% decline year-over-year. However, when adjusted for seasonal variations, sales saw a 0.5% rise compared to June 2026.
According to CREA senior economist Shaun Cathcart, while the national figures indicate a slowdown, various regional markets are gradually moving towards equilibrium. The average selling price of a home in July was $674,819, marking a modest 0.2% increase from the same period last year.
New property listings in July experienced a 1.6% decrease compared to the previous month, reflecting ongoing fluctuations in the housing market.
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