In July, home sales in Canada saw a decrease compared to the previous year but showed a slight increase from the prior month, as reported by the Canadian Real Estate Association (CREA). CREA disclosed that there were a total of 43,578 home sales last month, marking a decline of 5.3% from the same period last year. However, when seasonally adjusted, there was a 0.5% rise in activity compared to June 2026.
According to CREA’s senior economist, Shaun Cathcart, beneath the national headline figures, real estate markets across the country are gradually approaching a state of equilibrium. The average selling price of a home in Canada in July stood at $674,819, reflecting a modest 0.2% increase year over year.
CREA also noted a 1.6% decrease in new listings in July compared to the previous month, indicating a potential trend in the market.
