In August, the Canadian Real Estate Association reported a decrease in home sales compared to the same period last year, signaling a potential slowdown in the housing market due to ongoing economic challenges. Total home sales for the month reached 37,504, showing a 6.9% decline from August 2025. When adjusted for seasonal variations, activity dropped by 0.7% in comparison to July of this year.
Shaun Cathcart, CREA’s senior economist, expressed concerns over the impact of growing inflation risks and the looming possibility of interest rate hikes on the weakening economic conditions, which could negatively affect sales.
The average selling price of homes in Canada in August stood at $668,219, marking a modest 0.6% increase from the previous year. Additionally, new property listings in August rose by 3.3% compared to the previous month, reversing a trend of three consecutive declines earlier in the summer.
