Canada’s housing market showed signs of stabilisation in March 2026, as national conditions moved closer to balance. Improved affordability and stronger seasonal demand helped support prices after previous declines, giving buyers and sellers a more stable market environment.

Toronto Market Tightens

In the Greater Toronto Area, sales reached 5,039, up 1.7% year-on-year, while new listings fell 16.7% year-on-year. This shows that supply is dropping faster than demand. Although prices were still down annually, they remained stable month-on-month, suggesting that a price floor may be forming.

Vancouver Remains Balanced

Metro Vancouver recorded 2,032 sales, down 2.8% year-on-year, while new listings fell 10.3% year-on-year. However, active listings remained high at 14,774, around 38% above average. This gives buyers more choice and keeps price growth limited for now.

Buyers Still Hold Negotiating Power

Compared with 2025, buyers continue to benefit from more options and stronger negotiating power. However, as the spring market progresses and supply adjusts, conditions may begin to tighten gradually in selected cities.

Outlook

Canada’s housing market is likely to remain more balanced in the near term, with different cities moving at different speeds.

Toronto may see stronger support if supply continues to fall, while Vancouver could stay steady due to higher inventory. For buyers, this remains a useful window to compare options, negotiate carefully and enter the market before conditions tighten further.