Between January and July 2025, home sales declined in 62% of markets across the country, reflecting economic circumstances. With listings up in Ontario and B.C., conditions are shifting toward buyers, while tighter supply in the Prairies and Atlantic Canada continues to favour sellers.
Nationally, average home prices are expected to fall by about 6.5% this fall, a shift that could help improve affordability.
The profile of buyers is also changing. Families, new Canadians, and retirees are driving much of today’s activity, while first-time buyers have pulled back. Only 7% of Canadians plan to buy their first home in the next year, most in their late 20s to 40s, and many say even a 5% to 10% drop in prices or a small dip in interest rates would make a major difference.
Sellers are adapting as well. 8% plan to sell in the next year according to a new report, and most believe they’ll secure their asking price. Conditional sales are on the rise, suggesting buyers are negotiating more strategically as market conditions balance out.
Confidence in housing remains strong. Nearly half of Canadians expect the economy to stay steady in the coming months, and 92% view their home as a solid long-term investment. Many are also hopeful that new housing initiatives will boost affordability over the next few years.
Across the country, about a quarter of markets are expected to favour sellers this fall, while nearly four in ten lean toward buyers. Ontario is especially divided, with some regions like Toronto and Windsor anticipating price declines, while others such as Sudbury, Hamilton-Burlington, and Simcoe County could see gains.
With more inventory and shifting dynamics, this fall presents new opportunities for both buyers and sellers navigating Canada’s housing market.