In July, the Canadian Real Estate Association (CREA) reported a slight increase in home sales compared to the previous month, but a decrease from the same period last year. Total home sales for the month reached 43,578, marking a 5.3% decline year-over-year. However, when adjusted for seasonal factors, sales rose by 0.5% from 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 national average selling price of a home in July was $674,819, showing a modest 0.2% increase compared to the previous year.
New listings in July also saw a decrease, down by 1.6% from the previous month. This data suggests a shifting landscape in the Canadian housing market, with signs of stabilization and adjustments in various regions.