In July, home sales in Canada experienced a year-over-year decline but saw a slight increase compared to the previous month, as reported by the Canadian Real Estate Association (CREA). The total number of home sales for the month was 43,578, marking a 5.3% decrease from the same period last 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 generally moving towards a more balanced state. The average sale price of a home in July stood at $674,819, showing a 0.2% increase from the previous year.
Additionally, CREA reported a 1.6% decrease in new listings in July compared to the previous month.
