Canada’s Housing Recovery Won’t Be a Boom

As we move through this year, it’s clear that Canada’s housing market is on a path to recovery—just not a runaway boom. Since early Q2, I’ve noticed the uptick in resales, more stable inventory, and price trends that are either holding steady or easing at a slower pace. According to recent forecasts, we could see 2026 home resales dip by about 4% to 453,200, with benchmark prices easing roughly 2% to $794,200. In 2027, projections point to resales rebounding by around 7% to 483,600, and benchmark prices inching up just under 1% to $800,700. This signals a gradual recovery rather than dramatic jumps—something I’m seeing reflected in neighborhoods like North Vancouver, Burnaby South, and Vancouver West.

One factor driving this cautious optimism is pent-up demand: it’s estimated that more than 400,000 Canadian households haven’t yet formed since 2019, as many buyers have put decisions on hold. The future direction will hinge on affordability, steady economic growth, and renewed buyer confidence. Of course, with interest rates likely having reached their lowest point and ongoing trade uncertainties, the journey forward is still nuanced. As always, I’m keeping a close eye on these trends to help clients navigate what’s next in our market.