In August, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year, signaling a potential slowdown in the housing market due to ongoing economic challenges. Total home sales for the month reached 37,504, reflecting a 6.9% drop from August 2025. Adjusted for seasonal variations, activity declined by 0.7% compared to July.
Shaun Cathcart, CREA’s senior economist, highlighted concerns about rising inflation and the potential for interest rate hikes, which could negatively impact sales. Despite this, the national average sale price for a home in August rose by 0.6% year-over-year to $668,219.
Additionally, CREA noted a 3.3% increase in new listings in August compared to the previous month, marking a reversal from three consecutive declines earlier in the summer. This shift in new listings may influence market dynamics in the coming months.