Canadian Home Sales Continue to Climb in July, National Benchmark Price Remains Steady
OTTAWA, Ontario, Aug. 15, 2025 (GLOBE NEWSWIRE) -- The number of home sales recorded over Canadian MLS® Systems climbed 3.8% on a month-over-month basis in July 2025. Building on gains recorded over the previous three months, transactions are now up a cumulative 11.2% since March.
The July increase in home sales was again led overwhelmingly by the Greater Toronto Area (GTA), where transactions, while still historically low, have now rebounded a cumulative 35.5% since March.
“With sales posting a fourth consecutive increase in July, and almost 4% at that, the long-anticipated post-inflation crisis pickup in housing seems to have finally arrived,” said Shaun Cathcart, CREA’s Senior Economist. “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.”
July Highlights:
- National home sales were up 3.8% month-over-month.
- Actual (not seasonally adjusted) monthly activity came in 6.6% above July 2024.
- The number of newly listed properties was unchanged (+0.1%) on a month-over-month basis.
- The MLS® Home Price Index (HPI) was unchanged month-over-month and was down 3.4% on a year-over-year basis.
- The actual (not seasonally adjusted) national average sale price edged up 0.6% on a year-over-year basis.
New supply was little changed (+0.1%) month-over-month in July. Combined with the notable increase in sales, the national sales-to-new listings ratio rose to 52%, up from 50.1% in June and 47.4% in May. The long-term average for the national sales-to-new listings ratio is 54.9%, with readings roughly between 45% and 65% generally consistent with balanced housing market conditions.
There were 202,500 properties listed for sale on all Canadian MLS® Systems at the end of July 2025, up 10.1% from a year earlier and in line with the long-term average for that time of the year.
“Activity continues to pick up through the transition from the spring to the summer market, which is the opposite of a normal year, but this has not been a normal year,” said Valérie Paquin, CREA Chair. “Typically, we see a burst of new listings right at the beginning of September to kick off the fall market, but it seems like buyers are increasingly returning to the market. If you’re looking to buy or sell a property this fall, you should get in touch with a REALTOR® in your area today.”
There were 4.4 months of inventory on a national basis at the end of July 2025, dropping further below the long-term average of five months of inventory as sales continue to pick up. Based on one standard deviation above and below that long-term average, a seller’s market would be below 3.6 months and a buyer’s market would be above 6.4 months.
The National Composite MLS® Home Price Index (HPI) was unchanged between June and July 2025. Following declines in the first quarter of the year, the national benchmark price has remained mostly stable since May.
The non-seasonally adjusted National Composite MLS® HPI was down 3.4% compared to July 2024. This was a smaller decrease than the one recorded in June.
Based on the extent to which prices fell off in the second half of 2024, look for year-over-year declines to continue to shrink in the months ahead.
The non-seasonally adjusted national average home price was $672,784 in July 2025, edging up 0.6% from July 2024.
The next CREA statistics package will be published on Monday, September 15, 2025.
PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.
CREA cautions that average price information can be useful in establishing trends over time but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.
MLS® Systems are co-operative marketing systems used only by Canada’s real estate boards to ensure maximum exposure of properties listed for sale.
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations, representing more than 160,000 REALTORS® through 61 real estate boards and associations.
Further information can be found at http://CREA.ca/statistics.
For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@CREA.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/78868c46-79d2-4fd6-901e-67c4f47c9f46
Monthly home sales
July 2025 monthly home sales
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