Home sales in July showed a decrease compared to the previous year but experienced a slight increase on a monthly basis, as reported by the Canadian Real Estate Association (CREA). CREA disclosed that home sales in the past month reached 43,578, marking a 5.3% decline from the same period last year. However, when seasonally adjusted, there was a 0.5% rise in activity compared to June 2026.
CREA’s senior economist, Shaun Cathcart, mentioned that beneath the overarching national figures, markets across the country are generally progressing towards a more balanced state. The national average selling price of a home in July stood at $674,819, reflecting a modest 0.2% increase from the previous year.
Furthermore, CREA highlighted that new listings in July experienced a 1.6% decrease compared to the prior month, indicating ongoing dynamics in the real estate market.
