Home sales in July saw 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). According to CREA, there were a total of 43,578 home sales last month, marking a 5.3% decline from the previous 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 headline figures, 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 modest 0.2% increase year over year.
Additionally, CREA highlighted that new listings in July experienced a 1.6% decrease compared to the previous month. This data suggests ongoing shifts in the real estate market landscape.