The Canadian Real Estate Association reported a decrease in home sales for August compared to the same month last year, attributing it to ongoing economic challenges that could impact the housing market’s performance for the rest of the year. August saw a total of 37,504 home sales, marking a 6.9% decline from August 2025. When adjusted for seasonal variations, sales activity dropped by 0.7% compared to July.
Shaun Cathcart, CREA’s senior economist, highlighted concerns over rising inflation and potential interest rate hikes, suggesting these factors may have a negative impact on sales. The national average sale price of a home in August stood at $668,219, showing a modest 0.6% increase year-over-year.
In terms of new listings, CREA noted a 3.3% month-over-month rise in August, reversing a trend of three consecutive monthly declines earlier in the summer.