In July, home sales in Canada experienced a decrease compared to the same period last 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 for the month was 43,578, indicating a 5.3% decline from the previous year. However, when seasonally adjusted, sales saw a 0.5% rise compared to June 2026.
According to CREA senior economist Shaun Cathcart, beneath the overarching national figures, real estate markets nationwide are gradually moving towards a state of equilibrium. The average selling price of a home in Canada in July stood at $674,819, marking a 0.2% increase from the previous year.
Moreover, new property listings in July experienced a 1.6% decrease compared to the previous month, reflecting ongoing dynamics in the housing market.