Canada’s housing market is entering a slower phase, with weak demand, cautious buyers, and modest price growth expected through 2026 and into 2027.
Economic slowdown, higher mortgage renewals, and weak income growth are limiting affordability, keeping home sales below historical averages nationwide.
Construction activity is declining, especially in condo-heavy markets like Toronto and Vancouver, reducing future housing supply.
Regional divergence grows, with stronger outlooks in Montreal and Calgary, while major markets lag before gradual recovery starting 2027.
