HomeEconomy"Canadian Home Sales Decline...

“Canadian Home Sales Decline Amid Economic Challenges”

By Thabo Mokoena

In August, the Canadian Real Estate Association reported a decrease in home sales compared to the previous year amidst emerging economic challenges that may impact the housing market’s forward momentum for the rest of the year. Home sales for August totaled 37,504, marking a 6.9% decline from the same period in 2025. Adjusted for seasonal variations, sales activity dropped by 0.7% compared to July. CREA’s senior economist, Shaun Cathcart, highlighted concerns over rising inflation and potential interest rate hikes, which could negatively affect sales. The national average selling price for a home in August rose by 0.6% year-over-year to reach $668,219. Moreover, new listings in August increased by 3.3% from the previous month, breaking a three-month streak of declines earlier in the summer.

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