Canada’s housing market is showing signs of recovery, but it’s shaping up to be measured rather than meteoric. Since early Q2, we’ve seen steady improvements: resales are ticking up, inventory is finding its balance, and prices are either holding steady or softening at a slower pace. According to the latest bank forecasts, home resales are expected to dip by about 4% in 2026—landing near 453,200—while benchmark prices could ease about 2% to $794,200, even as momentum improves. By 2027, projections are a bit brighter: resales may rise roughly 7% to 483,600, and benchmark values could nudge just under 1% higher to $800,700. This points to a market that’s recovering, but without the frenzy of a classic boom.
One of the biggest factors supporting the market is pent-up demand. The bank estimates that over 400,000 Canadian households might not have formed since 2019, as many buyers put plans on hold. The path forward still hinges on affordability, steady economic growth, and growing confidence. It’s also worth noting that rates have likely bottomed out and ongoing trade tensions could impact progress. As someone dedicated to supporting your real estate journey, I keep a close eye on these shifts to help you navigate each step with confidence.
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