Pent-up demand to drive Canada’s housing recovery in 2026 and 2027: forecast

Canada’s resale housing market is expected to regain momentum in 2026 and continue growing through 2027, driven by pent-up demand from first-time buyers. Sales are forecast to rise nationally by 5.1% in 2026 and 3.5% in 2027, with the strongest rebounds in British Columbia and Ontario. Home prices are projected to increase modestly, with a national average near $700,000, reflecting a calmer, more sustainable market.