Canadian Existing-Home Sales Trend Higher in July

On Tuesday, the Canadian Real Estate Association (CREA) reported that existing-home sales recorded over Canadian MLS Systems increased 0.5% in July, marking the fourth consecutive monthly increase. Year-over-year, actual, not seasonally adjusted sales were down 5.3%.

As of the end of July, 205,388 properties were listed for sale, up 0.6% from a year earlier and 1.5% above the long-term average for this time of year.

New listings fell 1.6%, marking the third consecutive monthly decline. With sales rising, the national sales-to-new listings ratio tightened to 51.3%. CREA notes that the long-term average is 54.7%, with readings between 45% and 65% generally consistent with balanced market conditions.

There were 4.7 months of inventory on a national basis at the end of July, the lowest level so far this year and slightly below the long-term average of five months. Readings below 3.6 months indicate a seller’s market, while readings above 6.4 months indicate a buyer’s market.

The non-seasonally adjusted average home price was CA$674,819 in July, up 0.2% from July 2025.