Canadian house sales increased by 6.6% in July compared to last year

The Canadian Real Estate Association (Crea) says that the sales of the house in July increased by 6.6 percent compared to a year ago, with one upward trend after the market slowed down in the previous months.

In July 2024, a total of 45,973 houses changed their hands from 43,122 last month.

On the basis of a month of one month from June, home sales increased by 3.8 percent, with a transaction of up to 11.2 percent cumulative since March.

“Sales posting fourth consecutive growth in July, and about four percent of the sales posting in July, the long-aided post-inflation crisis pickup in the housing has finally arrived,” the Crey’s Senior Economist Sean Cathcart said in a news release.

“Looking a little further, it will be interesting to see how buyers react to the new supply explosion that usually appear in the first half of September.”

The association stated that the collision in sales activity was led by the Greater Toronto region, where the transactions since March have now rebounds from 35.5 percent cumulative.

TD economist Rishi Sondi said that “had already been sidelined in the first year last month.”

He said in a note, “In fact, it seems that the recovery of sales that took place in 2024 in the year after a significant (interest) rate relief in the year, just a few months delayed.”

“Some decrease in economic uncertainty should bring back more buyers in BC and Ontario, while further the bank of Canada may offer minor stimulation in the back half of the relief year. However, obstacles remain, such as stretched cheapness and a weak job market in many provinces.”

Housing market ‘stable’ through summer: Economist

Meanwhile, the new listing was 0.1 percent month after month.

At the end of July, 202,500 properties were listed for sale across Canada, a year ago to 10.1 percent and conform to the long -term average for that time of the year.

The non-adjusted national average selling price of a house sold in July was $ 672,784, which was 0.6 percent from a year ago.

The Cre’s own home price index, which aims to represent the sale of typical homes, was unchanged between June and July 2025.

BMO senior economist Robert Kavik said that the housing market has seen “very balanced and stable” through summer, with significant regional variations.

He said in a note, “At the national level, sales have moved towards long -term criteria, the inventory has been elevated, but the market has not been highly saturated, and prices are effectively flat.”

“Markets where price improvements are going on, we are getting closer to the levels that some buyers are bringing from the edge.”