By Sammy Hudes
A total of 45,973 homes changed hands last month, up from 43,122 in July 2024.
Home sales rose 3.8% on a month-over-month basis from June, with transactions up a cumulative 11.2% since March.
“With sales posting a fourth consecutive increase in July, and almost four per cent at that, the long-anticipated post-inflation crisis pickup in housing seems to have finally arrived,” said CREA senior economist Shaun Cathcart in a press release.
“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.”
The association said the bump in sales activity was led overwhelmingly by the Greater Toronto Area, where transactions have now rebounded a cumulative 35.5% since March.
Meanwhile, new listings were up 0.1% month-over-month.
There were 202,500 properties listed for sale across Canada at the end of July, up 10.1% from a year earlier and in line with the long-term average for that time of the year.
The actual national average sale price of a home sold in July was $672,784, up 0.6% from a year ago.
CREA’s own home price index, which aims to represent the sale of typical homes, was unchanged between June and July 2025.
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Last modified: August 15, 2025