Home sales in July saw a decrease compared to the previous year but showed a slight increase on a monthly basis, as reported by the Canadian Real Estate Association (CREA). The total number of home sales for the month was 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 numbers, markets across the country are gradually moving towards a more balanced state. The average sale price of a home in July stood at $674,819, showing a modest 0.2% increase on a year-over-year basis.
CREA also noted a 1.6% decrease in new listings in July compared to the previous month.