Canadian Home Sales Rise 0.5% in July as Listings Fall for a Third Month
Updated
Updated · Mortgage Professional · Aug 18
Canadian Home Sales Rise 0.5% in July as Listings Fall for a Third Month
3 articles · Updated · Mortgage Professional · Aug 18
Summary
National MLS activity rose 0.5% in July, marking a fourth straight monthly gain and leaving sales about 7% above their March low.
New listings fell 1.6%, pushing the sales-to-new-listings ratio to 51.3% and inventory down to 4.7 months—the lowest level of 2026 and near long-run balanced conditions.
Prices also steadied: the average sale price was C$674,819, up 0.2% from a year earlier, while the MLS Home Price Index edged up 0.1% from June for its first monthly gain since November 2024.
The recovery remains uneven across Canada, with Saskatchewan, New Brunswick, and Newfoundland and Labrador still near sellers' territory, while Ontario has moved back toward normal after starting 2026 in buyers' market conditions.
CREA said more moderate conditions should keep drawing buyers off the sidelines, though brokers described the market as highly fragmented by neighborhood, property type, and price point.