In August, the Canadian Real Estate Association reported a decline in home sales compared to the previous year amid new economic challenges that could hinder the housing market’s growth for the rest of the year. Total home sales for the month reached 37,504, marking a 6.9% decrease from August 2025. Adjusted for seasonal variations, activity dropped by 0.7% compared to July.
Shaun Cathcart, CREA’s senior economist, highlighted concerns over rising inflation and potential interest rate hikes, which have contributed to a weakened economic landscape that may impact sales. The average national sale price of a home in August stood at $668,219, showing a modest 0.6% increase year-over-year.
Additionally, new listings in August saw a 3.3% month-over-month increase, breaking a trend of three consecutive declines earlier in the summer. This shift in listings could influence market dynamics in the coming months.