Canada’s housing market showed strong momentum in July 2025, with national home sales rising 6.6% compared to the same time last year, according to new data from the Canadian Real Estate Association (CREA).
A total of 45,973 homes changed hands across the country last month, up from 43,122 in July 2024. The national average sale price for a home sold in July was $672,784, marking a 0.6% year-over-year increase.
Month-Over-Month Gains Continue
Home sales were also 3.8% higher than in June, representing the fourth consecutive monthly increase. Since March, transactions are up 11.2% nationwide.
“The long-anticipated post-inflation crisis pickup in housing seems to have finally arrived,” said CREA senior economist Shaun Cathcart.
GTA Leads the Recovery
The rebound was driven primarily by the Greater Toronto Area (GTA), where sales have surged 35.5% since March.
TD economist Rishi Sondhi says pent-up demand that was stalled earlier in 2025 due to economic uncertainty and interest rates has now returned. He notes that further Bank of Canada rate cuts in the second half of the year could add more stimulus, especially in Ontario and British Columbia.
Inventory and New Listings
- New listings rose 0.1% month-over-month in July.
- At the end of the month, 202,500 properties were listed for sale across Canada, up 10.1% year-over-year.
- This level of inventory is in line with the long-term average for July.
BMO senior economist Robert Kavcic says the market remains “balanced and stable” overall, with prices holding steady despite elevated inventory in some regions.
Regional Variations
While national numbers point to stability, there are still significant differences between provinces:
- Ontario and B.C. are seeing renewed buyer interest as economic uncertainty eases.
- Some markets are still undergoing price corrections, but experts say they’re approaching levels that could bring more buyers off the sidelines.
- Vancouver home sales slipped 2% year-over-year in July but show early signs of turning a corner.
What to Watch This Fall
With September traditionally bringing a wave of new listings, analysts are watching to see how buyers respond to fresh inventory. The coming months could test whether this summer’s momentum can carry into the fall housing market.
Source: Canadian home sales rose 6.6% in July compared to same time last year | CBC News
Subscribe to our newsletter:
Get weekly insights on home prices, real estate trends, and breaking news in Canada’s housing market.
Stay informed. Stay ahead.
Canada Housing Market 
Leave a comment