In July, the Canadian Real Estate Association (CREA) reported a decrease in home sales compared to the previous year, but a slight increase from the previous month. The total number of home sales for the month was 43,578, showing a 5.3% decline year-over-year. However, on a seasonally adjusted basis, 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, real estate markets across the country are gradually moving towards a more balanced state. The average sale price of a home in July was $674,819, marking a 0.2% increase from the previous year.
Additionally, CREA highlighted a 1.6% decrease in new listings in July compared to the previous month, indicating a potential shift in market dynamics.
Overall, while home sales dipped from the previous year, the month-over-month increase and evolving market balance suggest a dynamic real estate landscape in Canada.
[Original Source: CBC News – CREA Home Sales Report for July]