Home sales in July saw a decrease compared to the previous year but showed a slight increase from the previous month, as reported by the Canadian Real Estate Association (CREA). The total number of home sales in the last month was 43,578, marking a 5.3% decline from the same period last year. However, when adjusted for seasonal variations, there was a 0.5% uptick in activity compared to June 2026.
According to CREA senior economist Shaun Cathcart, 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 $674,819, reflecting a modest 0.2% increase year-over-year.
In terms of new listings, CREA noted a 1.6% decrease in July compared to the previous month. The data indicates a trend of shifting market dynamics as various regions strive for equilibrium in the housing sector.