A national industry association lowered its 2026 sales outlook, signaling slower activity across Canada even as market conditions continue to differ widely by region.
Falling home values and a wave of listings gave buyers more leverage, lighter competition, and extra time to weigh mortgage and purchase decisions.
An industry expert said recent sales activity has not produced meaningful value gains, leaving improved buying opportunities for people previously priced out.
The central bank held rates steady so far in 2026, giving no sign of cuts before year-end and continuing to temper affordability and demand.
The base case still called for 2027 sales to rebound ~4%, with avg. prices reaching ~$694K if rates stabilize and economic growth firms.
