Residential Market Commentary - A jump in July

Canada’s realtors have received another sign that the market rebound they have been waiting for may have arrived. 

Monthly home resales across the country increased for the fourth month in a row in July, rising by nearly 4.0% over June, according to the latest report from the Canadian Real Estate Association. 

Most of the increase was posted in the Greater Toronto Area.  Transactions in the region have increased 35.5% since March, but remain historically low. 

A total of 45,973 homes changed hands across Canada last month, up from 43,122 in July 2024, a 6.6% increase. 

“[T]he long-anticipated post-inflation crisis pickup in housing seems to have finally arrived,” said, CREA’s Senior Economist, Shaun Cathcart. 

Prices remained flat.  The national average home price sits at a little less than $673,000, an increase of just 0.6% over last July.  CREA’s preferred pricing measure, The National Composite MLS Home Price Index (HPI), was unchanged between June and July 2025.  It has been mostly stable since May. 

New supply was also flat, registering just a 0.1% increase month-over-month.  The number of properties listed for sale at the end of July totalled 202,500, a 10% increase from a year earlier. 

“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,” said CREA’s Cathcart.