Home sales drop with ‘fresh round of economic headwinds’ ahead: CREA + MORE Sep 15th

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The Canadian Real Estate Association (CREA) says home sales in August were down compared with a year ago as a fresh round of economic challenges threatens to dampen housing market momentum for the remainder of the year.

The organization said home sales last month totalled 37,504, down 6.9% from August 2025.

On a seasonally adjusted basis, activity fell 0.7% compared with July of this year.

Overall, sales activity and price trends were largely unchanged for a fourth consecutive month, CREA senior economist Shaun Cathcart said in a news release.

“What has changed is the broader economic environment, with the Bank of Canada recently warning of rising inflation risks, along with doubts about the durability of recent economic growth,” he said.

“For borrowers, fixed mortgage rates have already increased on higher bond yields. Meanwhile, on the variable rate side, a rate hike is not only back on the table for this year but already priced in by markets. This fresh round of incoming headwinds is expected to dampen the prospects for further housing market momentum heading into 2027…