Canada’s Housing Market Regains Momentum

Canada’s housing market strengthened in June 2026 as lower borrowing costs, improving affordability and growing consumer confidence encouraged more buyers to return.

The recovery was particularly visible in Toronto and Vancouver, where sales increased while the supply of newly listed homes declined. This combination points to improving demand, although market conditions remain different across provinces and property types. 

Toronto and Vancouver Lead the Recovery

The Greater Toronto Area recorded 6,770 home sales, representing a 9.4% year-on-year increase. At the same time, new listings fell 12.9%, while active listings declined 13.5%.

Toronto’s average home price reached $1,058,658, down 3.9% year-on-year. This suggests buyers are returning to the market, but price sensitivity continues to shape purchasing decisions.

Metro Vancouver also recorded renewed momentum. Residential sales rose 9.6% year-on-year to 2,390 transactions, while new listings decreased 6.0%.

Demand strengthened across detached homes, townhouses and apartments. Apartments generated the highest number of sales at 1,103 transactions, with a benchmark price of $695,200.

Quebec presented a more mixed picture. Total residential sales declined 4% year-on-year to 8,492, while active listings increased 18%. However, median prices remained resilient, with single-family homes rising 3% to $515,000and condominiums increasing 1% to $409,500.

Outlook

Canada’s housing recovery is likely to remain gradual and regionally uneven.

Toronto and Vancouver may continue benefiting from stronger buyer confidence and tighter new supply. However, buyers are expected to remain selective, especially where affordability remains challenging.

Markets with balanced pricing, improving financing conditions and limited inventory should be better positioned to maintain momentum through the second half of 2026.