In August, the Canadian Real Estate Association reported a decrease in home sales compared to the same period last year. This decline comes amidst emerging economic challenges that may impede the housing market’s growth for the rest of the year. Home sales in August reached 37,504, marking a 6.9% drop from August 2025.
Adjusting for seasonal variations, sales activity decreased by 0.7% when compared to July of this year. CREA’s senior economist, Shaun Cathcart, pointed to rising inflation risks and potential interest rate hikes as factors contributing to the weakened economic landscape that could impact sales.
The average selling price of a home in August stood at $668,219, reflecting a 0.6% increase year-over-year. Additionally, new property listings in August rose by 3.3% from the previous month, reversing a trend of three consecutive declines earlier in the summer.