Home sales in July saw a decrease compared to the same period last year but experienced a slight uptick on a monthly basis, as reported by the Canadian Real Estate Association (CREA). According to CREA, the total number of home sales last month was 43,578, marking a 5.3% decline from the previous year. However, when adjusted for seasonal variations, there was a 0.5% increase in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national headline figures, real estate markets across the country are generally trending towards a more balanced state. The national average selling price of a home in July stood at $674,819, showing a modest 0.2% rise year-over-year.
In July, CREA observed a 1.6% decrease in new listings compared to the previous month. This data suggests ongoing shifts in the Canadian housing market landscape.