In July, home sales in Canada showed a decline compared to the same period last year but saw a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). The total number of home sales for the month reached 43,578, marking a 5.3% decrease from the previous year. However, when adjusted for seasonal variations, the activity experienced a 0.5% uptick compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted 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 was $674,819, reflecting a modest 0.2% increase on a year-over-year basis.
Furthermore, CREA highlighted that new listings in July decreased by 1.6% compared to the previous month, indicating a potential shift in market dynamics.
