In July, home sales in Canada experienced a decline compared to the previous year but showed a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). The total number of home sales in July was 43,578, reflecting a 5.3% decrease compared to the same time last year. However, when seasonally adjusted, there was a 0.5% rise in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national 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, marking a 0.2% increase from the previous year.
In terms of new listings, CREA reported a 1.6% decrease in July compared to the previous month. This data suggests ongoing shifts in the Canadian housing market landscape.
Overall, while there was a year-over-year decline in home sales, the month-over-month uptick and evolving market dynamics indicate a transitioning real estate environment in Canada.