In August, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year amid emerging economic challenges that could slow down the housing market’s progress for the remainder of the year. Total home sales for the month were 37,504, reflecting a 6.9% decline from August 2025. When adjusted for seasonal variations, activity dropped by 0.7% compared to July 2026.
Shaun Cathcart, CREA’s senior economist, highlighted that the potential for rising inflation and looming interest rate hikes has created a less favorable economic landscape that might impact sales volumes. The national average selling price of homes in August was $668,219, showing a modest 0.6% increase year-over-year.
August witnessed a 3.3% increase in new listings compared to the previous month, marking the end of a streak of three consecutive declines earlier in the summer.
