Fall 2026

Canada’s spring housing market slow to bloom in 2026

Canada’s spring housing market gained traction in May and built momentum through June, shaking off a slow start caused by a drawn-out winter and cautious consumer sentiment.

According to the Royal LePage® House Price Survey and Market Forecast, the aggregate1 price of a home in Canada decreased 1.4 per cent year over year to $814,900 in the second quarter of 2026. On a quarter-over-quarter basis, however, the national aggregate home price remained flat, increasing a modest 0.2 per cent. When broken out by housing type, the national median price of a single-family detached home decreased 0.9 per cent year over year to $862,400, while the median price of a condominium decreased 2.9 per cent to $574,800.

“After a sluggish first quarter, the spring housing market finally got rolling in May. Several regions are now seeing that uptick in momentum carry into summer, as buyers who held back earlier in the year re-enter the market,” said Phil Soper, president and CEO, Royal LePage. “In many cases, what has kept consumers on the sidelines is not a lack of interest, but a lack of urgency. In markets where inventory levels remain elevated, homebuyers have the luxury of time, browsing at their own pace until the right property comes along. That measured approach is reinforced by a persistent backdrop of economic uncertainty, which continues to shape how and when many Canadians decide to move.”

On July 1st, the United States declined to extend the Canada-United States-Mexico Agreement (CUSMA) for a new 16-year term, triggering a period of annual reviews that will run until the agreement’s scheduled expiry in 2036. While the agreement remains in force for now, the decision introduces a prolonged negotiating period. For businesses across the continent, that uncertainty is unlikely to ease anytime soon.

“We are optimistic that Canada’s strong economic foundation will keep the fall market on track. Pent-up demand from buyers and sellers who sat out earlier this year continues to build. The fundamental desire to own a home has not gone away – it has simply been deferred.”

Royal LePage is forecasting that the aggregate price of a home in Canada will increase 2.0 per cent in the fourth quarter of 2026, compared to the same quarter last year. The previous forecast has been upgraded to reflect home price gains in markets where demand continues to outstrip supply.

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1 Aggregate prices are calculated using a weighted average of the median values of all housing types collected. Data is provided by RPS Real Property Solutions and includes both resale and new build

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