In August, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year amidst emerging economic challenges that may hinder the housing market’s growth for the rest of the year. Home sales in August amounted to 37,504, marking a 6.9% decline from the same period in 2025. Adjusted for seasonal variations, sales activity dropped by 0.7% compared to July. CREA’s senior economist, Shaun Cathcart, highlighted concerns over rising inflation and potential interest rate hikes impacting the economic landscape and potentially affecting sales.
The average national sale price for a home in August stood at $668,219, showing a modest 0.6% increase year-over-year. August saw a 3.3% increase in new listings compared to the previous month, reversing a three-month declining trend experienced earlier in the summer.