In August 2026, Greater Vancouver saw its median sale price fall by 3.5% compared to last year. This is a meaningful shift, opening up more affordability for buyers in a market known for high prices. If you've been waiting for a better entry point, this could be your moment to act.
US-Canada trade talks collapsed, triggering a tariff war with 50% tariffs on $20 billion of Canadian exports to the US. Retaliatory tariffs from Canada will begin September 8, causing uncertainty for the Canadian economy and housing market. Interest rates are expected to remain steady, but rising US long-term rates may pressure Canadian rates. Despite trade tensions, Canada's economy remains resilient with strong recent growth.
Even with inventory improving, entry-level and middle-market options remain the key unlock for households trying to match budgets with available homes.
A new alignment score compares homes for sale with local household incomes, showing whether listing prices fit the buyers in each market.
Restoring balance would require ~311K additional listings priced below $261K, giving middle-income buyers more options where affordability gaps remain most visible nationwide.
Economists emphasized supply is improving, but durable recovery depends on homes entering the market at price points buyers can realistically afford today.
A true recovery depends on more entry-level and middle-market homes, so buyers should watch fresh listings by price, not just inventory levels.
Canada’s trade dispute with the US was adding pressure across housing and mortgages, from borrowing costs and construction expenses to weaker near-term demand.
An economist estimated ~50% tariffs on selected exports could cost Canada ~90K jobs, with Ontario and Quebec expected to feel the biggest effects.
A bank projected tariffs could trim Canada’s GDP by <0.5% and lift inflation similarly, a mix seen keeping the central bank sidelined.
Rising bond yields pushed fixed mortgage rates higher recently, while more borrowers turned to shorter-term and variable options as lenders watched vulnerable sectors.
Counter-tariffs on steel and aluminum were expected to raise building and renovation costs, slow new construction, and make mortgage advice more valuable for homeowners.
Canada is opening a bigger economic door to Europe, as it looks to reduce reliance on the U.S. and build stronger international partnerships.
The opportunity goes beyond trade: energy, AI, critical minerals and infrastructure could become major areas for cross-border investment.
A broader network of trading partners could redirect capital, creating new opportunities for Canadian businesses, investors and infrastructure projects.
Takeaway: Canada’s next growth story may be shaped by where it builds new economic partnerships—not just by what happens south of the border.
Canada's affordability reading reached ~41% in Q2 2026 after an 11th straight quarterly improvement, helped by lower prices, lower borrowing costs, and rising incomes.
Even after ~13 ppts of improvement from the recent peak, ownership stayed difficult nationally, with housing costs still taking roughly two-fifths of avg. household income.
The measure may look somewhat better than many households feel because it uses avg. disposable income, not median income, which can overstate affordability.
A bank economist said the recent reset reflected earlier rate cuts, a ~20% national price decline from the 2022 peak, and stronger personal incomes.
Looking ahead, slow income gains and limited rate relief leave more of the adjustment to prices, making further national declines still possible.
The national housing agency projected Canada needs 417K-469K new homes yearly through 2036 to restore pre-pandemic affordability, far above current construction expectations.
Canada still faces a long-term housing supply gap of 187K-238K homes per year over the next decade, based on current projections nationally.
Construction expected to slow faster than demand, leaving Canada short of needed homes and making the current downturn a key risk to affordability goals.
The scale of the shortage means construction would need to rise dramatically from current projections, with much of today's building tied to projects already underway.
Nationally, Canada needs roughly twice as much housing construction as currently projected to improve affordability over the next decade under the current outlook.
Online listings help buyers search, but a skilled REALTOR® adds guidance on offers, closing steps, hidden risks, and getting keys with confidence.
Interview several agents and verify licensing through provincial registries. Compare approaches, property and neighbourhood experience, professional education, and strategy for your search.
Buying is a process, not one event. The right agent can support planning, searching, negotiating, closing, and questions long after move-in too.
With an exclusive buyer representation agreement, the REALTOR® becomes an advocate, owing fiduciary duties to protect buyers and act in their interests.
Local knowledge is critical because location cannot be changed later, and understanding distinct neighbourhood dynamics can make a major difference in your buying decision.
CMHC expects housing conditions to improve gradually in 2027 as incomes and economic growth strengthen.
Sales should recover, but CMHC expects activity to remain below the typical levels seen during the previous decade.
CREA forecasts only modest national price growth, suggesting stabilization rather than another major price surge.
Higher inventory and weaker demand in some markets could continue giving buyers more negotiating room.
National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences.
It's a symbol of Canada's commitment to reconciliation with Indigenous communities.
Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools.
May this day inspire a future where every voice is heard, and every spirit is healed.
Together, we can create a tomorrow filled with hope and endless possibilities.
