August Housing Volumes Retract by 6.9% on Softening Market Momentum
The Canadian Real Estate Association says home sales in August were down compared with a year ago as a fresh round of economic challenges threaten to dampen housing market momentum for the remainder of the year.
The organization says home sales last month totalled 37,504, down 6.9 per cent from August, 2025.
On a seasonally adjusted basis, activity fell 0.7 per cent compared with July of this year.
Shaun Cathcart, CREA’s senior economist, says rising inflation risks and the possibility of looming interest rate hikes have weakened the economic environment, which could hurt sales activity.
The national average sale price of a home sold in August was $668,219, up 0.6 per cent on a year-over-year basis.
CREA says new listings in August were up 3.3 per cent month-over-month, ending a streak of three straight declines earlier in the summer.\
This article was first reported by the Canadian Press
