In August, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year amid ongoing economic challenges that may slow down the housing market’s momentum for the rest of the year. Home sales for the month reached 37,504, showing a 6.9% drop from August 2025. When seasonally adjusted, the activity dipped by 0.7% from July. CREA’s senior economist, Shaun Cathcart, highlighted concerns over rising inflation and potential interest rate hikes affecting the economic landscape and possibly impacting sales.

The average national sale price of a home in August stood at $668,219, reflecting a 0.6% increase year-over-year. Additionally, CREA noted a 3.3% month-over-month rise in new listings in August, following three consecutive months of decline earlier in the summer.