“Canadian Home Sales Decline in August Amid Economic Challenges”

In August, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year, as ongoing economic challenges may slow down the housing market for the rest of the year. Home sales for the month totaled 37,504, marking a 6.9% decline from August 2025. Adjusted for seasonal variations, sales dropped by 0.7% compared to July. CREA’s senior economist, Shaun Cathcart, mentioned that concerns over rising inflation and potential interest rate hikes have created a less favorable economic landscape that could impact sales. The national average sale price for homes in August was $668,219, representing a 0.6% increase from the previous year. New listings in August saw a 3.3% increase from the previous month, breaking a three-month declining trend earlier in the summer.