“Canadian Home Sales Decline Amid Economic Challenges”

In August, the Canadian Real Estate Association reported a decline in home sales compared to the previous year amidst a backdrop of emerging economic challenges that could slow down housing market growth for the rest of the year. Home sales in August totaled 37,504, marking a 6.9% decrease from the same month in 2025. Seasonally adjusted activity dropped by 0.7% compared to July. Shaun Cathcart, CREA’s senior economist, cited rising inflation risks and potential interest rate hikes as factors contributing to the weakened economic conditions that may impact sales. The national average sale price of homes in August stood at $668,219, reflecting a 0.6% increase year-over-year. August saw a 3.3% increase in new listings compared to the previous month, breaking a three-month streak of declines earlier in the summer.