In July, home sales in Canada showed a decrease compared to the previous year but saw 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, marking a 5.3% decline year over year. However, on a seasonally adjusted basis, 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, showing a 0.2% increase from the previous year.
Furthermore, new property listings in July experienced a 1.6% decrease compared to the previous month. This trend suggests a shift in the real estate market dynamics as it aims for more equilibrium.