Canada   Canada’s housing market started 2026 with softer sales and more balanced supply compared to prior years. Total home sales in 2025 fell 1.9% from 2024, and the MLS® Home Price Index was down about 4% year-over-year by year-end.   CREA forecasts a modest rebound in 2026, with sales expected to rise 5–7% and average prices reaching around $690,000 to $700,000. The market remains stable, supported by improved affordability and steady buyer confidence.   Toronto   GTA REALTORS® reported 3,082 home sales in January 2026, down 19.3 per cent compared to January 2025, while new listings totaled 10,774, a 13.3 per cent year-over-year decline. On a seasonally adjusted basis, sales decreased month-over-month as listings edged slightly higher.   The MLS® HPI Composite benchmark fell eight per cent year-over-year, with the average selling price at $973,289, down 6.5 per cent from January 2025. TRREB’s 2026 Market Outlook and Year in Review Report also highlights broader trends across the GTA’s residential and commercial real estate markets.   Source: https://trreb.ca/wp-content/files/market-stats/market-watch/mw2601.pdf    Vancouver   Metro Vancouver home sales on the MLS® dropped 28.7% year-over-year in January 2026 to 1,107 units, well below the 10-year average. New listings declined 7.3% to 5,157 but remained above historical norms, pushing active listings up nearly 10% to 12,628.   The sales-to-active listings ratio stood at 9.1%, signaling continued downward pressure on prices. The MLS® Home Price Index benchmark fell 5.7% to $1,101,900. Detached, apartment, and attached home sales and prices all saw double-digit declines compared to January 2025. GVR expects 2026 to mirror last year with subdued sales, high inventory, and stable prices amid ongoing economic uncertainty.   Source: https://members.gvrealtors.ca/news/GVR-Stats-Package-January-2026.pdf   Quebec   Source: https://apciqca-152af.kxcdn.com/wp-content/uploads/sites/4/2026/02/stats-202601-en-1.pdf    Download to see insights from other country marketsDownload

Canada’s real estate market closed 2025 in a more balanced and stable position, supported by earlier interest rate cuts, easing inflation, and gradually improving buyer confidence. Across major cities, conditions varied but remained resilient: the GTA saw steady demand within a well-supplied market, Vancouver experienced elevated inventory with limited price pressure, and Montreal continued to outperform, driven by favourable financing conditions and population growth. Overall, the national market ended the year on solid footing, setting a measured tone for 2026. At the city level, Toronto closed December 2025 with lower year-on-year sales and prices, but rising listings and improving affordability are positioning the market for a potential recovery once economic confidencestrengthens. Vancouver remained firmly buyer-friendly, with high inventory levels and softer sales keeping conditions balanced-to-soft. Quebec continued to show resilience, with stable transaction activity and price growth supported by strong demand for multi-unit and urban housing. Taken together, Canada’s housing market is entering 2026with greater stability, improving affordability trends, and pent-up demand that could support activity as confidence returns. Download to see insights from other country marketsDownload

Written by Yousaf Iqbal, Head of IQI Canada  In November 2025, Canada’s housing market showed early signs of renewed momentum as national home sales rose and prices began to stabilise. The national average home sale price reached about C$690,195, up modestly month-over-month and down only around 1.1% compared with last year — narrowing the year-over-year drop. With sales climbing and listings somewhat pressured, the supply-to-demand balance remained within historically “normal” bounds. Interest rates set by the Bank of Canada at 2.25% have kept borrowing costs moderate, creating a modest boost to affordability — though many markets remain expensive for first-time buyers.  Toronto (GTA)  In November 2025, GTA home sales dropped 15.8% year-over-year to 5,010 transactions, with new listings down 4% to 11,134, as many buyers stayed cautious amid economic uncertainty. Prices continued to ease: the MLS® HPI Composite fell 5.8% annually, and the average selling price declined 6.4% to $1,039,458. On a seasonally adjusted basis, both sales and listings edged slightly lower from October, while prices held mostly steady. With borrowing costs lower and improving job data, confidence is expected to gradually build heading into 2026.  Vancouver In November 2025, Metro Vancouver home sales dropped 15.4% year-over-year to 1,846, while active listings climbed 14.4% to 15,149, keeping conditions firmly in buyers’ territory. New listings edged down 1.4% to 3,674, though overall inventory remained well above long-term averages. The MLS® HPI benchmark fell 3.9% annually to $1,123,700, with detached, attached, and apartment prices all softening slightly from last year. Ample supply, slower sales, and steady borrowing costs continued to shape a quiet, buyer-friendly market heading into year-end.  Quebec (province-wide)  In November 2025, home sales remained stable at around 16,000 transactions, with activity holding near last year’s levels despite regional differences. Inventory increased modestly, driven mainly by rising listings in major centres like Montréal. Median prices continued to trend upward province-wide: single-family homes rose to roughly C$635,000, condos held near C$425,000, and plex prices climbed to about C$855,000, supported by strong demand for multi-unit properties. Overall, the market stayed balanced, with supply improving and prices remaining resilient heading into year-end.  Discover more here:Download Now!