In July, Canadian home sales experienced a slight increase from the previous month but marked a decrease compared to the same period last year, as reported by the Canadian Real Estate Association (CREA). Total home sales for the month reached 43,578, showing a 5.3% decline year-over-year. However, when adjusted for seasonal fluctuations, there was a 0.5% uptick in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national sales figures, real estate markets across the country are gradually moving towards a more balanced state. The average selling price of a home in Canada in July stood at $674,819, reflecting a modest 0.2% increase from the previous year.
Moreover, CREA highlighted a 1.6% decrease in new listings in July compared to the previous month. This data suggests ongoing shifts in the Canadian housing market.