In August, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year amidst ongoing economic challenges that may impact the housing market for the rest of the year. Total home sales for the month reached 37,504, marking a 6.9% decline from August 2025. When adjusted for seasonal variations, sales activity dipped by 0.7% compared to July 2026.
Shaun Cathcart, CREA’s senior economist, highlighted concerns over rising inflation and potential interest rate hikes, citing these factors as contributors to the weakened economic climate that could potentially impact sales. The average national sale price of a home in August stood at $668,219, reflecting a modest 0.6% increase from the previous year.
Additionally, CREA noted a 3.3% increase in new listings in August compared to the previous month, breaking a trend of three consecutive monthly declines earlier in the summer.
