Home sales in July showed a decrease compared to the same period last year but saw a slight improvement from the previous month, as per the latest report from the Canadian Real Estate Association (CREA). The total number of home sales last month was 43,578, indicating a 5.3% decline from the previous year. However, on a seasonally adjusted basis, there was a 0.5% increase in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, noted that beneath the national headline 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 reported at $674,819, showing a modest 0.2% increase on a year-over-year basis. Additionally, new listings in July decreased by 1.6% compared to the previous month.