Canadian home sales rose 3.8% in July as prices remained steady

Canadian home sales rose 3.8 per cent in July for the fourth consecutive month this year, as house prices remained steady across the nation.

There were 40,228 sales last month after removing seasonal influences, according to the Canadian Real Estate Association (CREA). That is up from 3.8 per cent from 38,737 sales in June.

The increase of sales in July was once again overwhelmingly led by the Greater Toronto Area, where home sale transactions, while still historically low, have rebounded a cumulative 35.5 per cent since March, CREA said.

In July, Ontario saw the largest increase in sales, with 14,464 homes sold on a seasonally adjusted basis, up 7.7 per cent from 13,479 a month prior.

CREA senior economist Shaun Cathcart said the increase in sales over the past four months may be a signal that the long-anticipated pickup in sales following the inflation crisis has “finally arrived.”

“Looking ahead a little bit, it will be interesting to see how buyers react to the burst of new supply that typically shows up in the first half of September,” he said in a release on Friday.

There were 202,500 properties listed for sale at the end of July 2025, up 10.1 per cent from a year earlier, according to CREA. That is in line with the long-term average for that time of the year, the association said in its report.

At the same time, the national average home price (non-seasonally adjusted) was $672,784 in July, just 0.6 per cent higher thana year prior.