August home sales down 6.9% as economic headwinds threaten market momentum: CREA

Real estate property in Richmond, B.C. (Volodymyr Kyrylyuk/Shutterstock)Social SharingThe Canadian Real Estate Association says home sales in August were down compared to a year ago as a fresh round of economic challenges threatens 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 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.

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