Earlier this year, Canada’s ownership-cost burden reached ~53% of median household income by Late-Q2, improving by ~0.5 points from Late-Q1 nationwide, a slight easing.
Ownership costs stayed mostly stable through Late-Q2, showing affordability improved only modestly and suggesting the national shift came from steady pricing, not a rapid reset.
Within Canada, Vancouver and Toronto led housing-cost declines, while Regina, Saskatoon, and Winnipeg posted modest price gains, showing affordability shifts varied by market.
Calgary and Edmonton were largely flat quarterly, with slight cost easing, yet both stayed above long-term affordability norms, underscoring lingering pressure for local buyers.
Edmonton remained among Canada’s most affordable major markets, but even there buyers faced affordability hurdles that could keep some from entering the market.
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Canada Homes Get Slightly More Affordable
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Canada Home Prices Hit Their Lowest Since 2023
A national index for 11 major metros slipped <0.5% MoM in the latest reading, marking eight declines in nine mo and reversing the prior uptick.
National prices sat at their weakest level since Early-Q2 2023, now ↓~4% from the Late-Q4 2025 peak reached nationally <1 yr earlier.
A rebound earlier in the year faded quickly: the adjusted measure ↓~0.5%, its first pullback in six mo after support from jobs and affordability.
Across major metros, yearly losses deepened to ~4% nationally. Vancouver, Hamilton, and Toronto led declines, while Quebec City, Montreal, and Winnipeg still posted gains.
Looking ahead, higher bond yields were expected to lift new mortgage costs, limit borrowing capacity, and pressure affordability as home sales began declining again. -
First-Time Homebuyer Tips: Here’s What You Need to Know
First-time homebuyers should prepare by budgeting for mortgage, taxes, insurance, and maintenance. Getting pre-approved for a mortgage clarifies affordability. Research local markets and factor in closing costs. Consider home inspections to avoid surprises. Decide between buying resale or building new, weighing costs and energy efficiency. Plan for future needs, resale value, and ongoing maintenance. Take time to choose wisely for a confident homebuying experience.
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Fraser Valley Real Estate Market Update: Insights for Langley and Beyond
Understand the latest trends in Fraser Valley real estate including average home prices, demand levels, and buyer activity to stay informed and ahead.
Maximize your sale by pricing your property smartly, staging effectively, and timing your listing according to market patterns.
Prepare your finances, get pre-approved for a mortgage, and act quickly on new listings to navigate this competitive market successfully.
Contact your trusted Fraser Valley real estate agent today for personalized advice and to make your real estate goals a reality.Continue to full article -
Fort St. John home prices climb despite slower sales, real estate board says
Home prices in Northeast B.C. rose through the first nine months of 2026 despite a slight decline in sales. In Fort St. John, 541 properties sold for $244.9 million, with the average detached home price increasing to $452,083. Inventory remains strong with 412 listings. Fort Nelson saw stable sales with 43 properties sold for $7.3 million and 100 listings. Northern B.C. recorded 3,654 sales worth $1.6 billion, with rising prices amid easing sales activity.
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Mortgage Rates Face a New Reality
Canadian borrowers could continue facing affordability pressure as borrowing costs remain elevated and economic uncertainty shapes the housing market.
Rate relief could improve affordability, but its impact will depend on inflation, economic conditions, and the Bank of Canada’s policy path.
Buyers may remain cautious, while higher financing costs continue influencing purchasing power, refinancing decisions, and overall housing demand.
For borrowers and investors, planning around current financing conditions remains important rather than relying entirely on future rate declines. -
Canada Housing Starts Trend Down 1.3%
Canada’s 6-mo housing-starts trend ↓~1% MoM in Mid-Q3 to ~244K annualized units, while the monthly annualized pace stayed essentially flat near 229K.
In larger Canadian centres, actual starts totaled 17.7K in Mid-Q3, ↓~2% yearly, bringing the current year’s first eight months to 149.5K, ↓~4%.
Homes under construction in Canadian centres above 50K population edged ↓<1% MoM to 371.7K units, showing a still-large pipeline despite slight cooling.
Completions softened faster, ↓~11% MoM to 17.6K units, while approved permits not yet started ↑<1% to 142.4K, signaling future projects remained queued.
The national housing outlook said starts were still elevated versus recent years, but the downward trend was expected to continue as construction moderated toward year-end. -
Experts Highlight Progress in Addressing Canadian Housing Crisis
While we’re seeing some encouraging signs—like improved affordability in certain regions—the bigger picture for Canadian housing is still challenging. Despite government initiatives and a rise in new home sales, the pace of construction just isn’t keeping up with demand, leaving many communities with a real shortage of homes. As someone who’s worked across project management and compliance, I see firsthand how complex these housing issues are in BC and beyond. Navigating this landscape requires more than quick fixes—it calls for a thoughtful approach that puts people and community at the heart of every solution.
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Mid-Year Outlook For Canada’s Housing Market
As someone deeply invested in the people and communities of British Columbia, I keep a close eye on Canada’s housing trends. The mid-year outlook reveals a steady recovery—home resales are picking up, prices are stabilizing, and inventory is finding its balance. Looking ahead to 2027, we can anticipate a continued rise in sales and modest price growth, though affordability and regional differences will still shape the experience for buyers and sellers. My background in project management and compliance helps me navigate these shifting dynamics with care, always keeping community and inclusivity at the forefront.
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Private sector must lead Canada’s housing response, Carleton expert says
The gap between Canada’s current housing starts—250,000 a year—and the 400,000 to 470,000 needed to keep up with demand is a reality that hits home across our communities. As our population grows, the shortage becomes even more pressing. High development charges and long approval processes only add to the challenge, making it tougher for new homes to come onto the market. From my experience navigating regulations and advocating for balanced solutions in BC real estate, I see the opportunity for the private sector to play a key role in driving innovation and expanding supply. Creating inclusive communities where everyone has access to housing is not just about numbers—it’s about building wellness and opportunity into the places we call home.
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