The Best Place to Work, Buy & Sell Real Estate

Canada’s housing market has been weaker than expected, with home sales and prices continuing to face pressure. Recent market updates indicate that affordability improvements have not yet been enough to bring buyers back in large numbers, as many remain cautious due to economic uncertainty, elevated mortgage rates, and slower income growth.

Home prices are expected to continue adjusting downward as demand remains soft. While some regions, including parts of the Prairies and Quebec, are showing more resilience, larger markets such as British Columbia and Ontario continue to experience historically low sales activity.

The slowdown is also affecting new construction, as builders respond to higher costs and rising unsold inventory. New housing starts are expected to decline further, particularly in condominium markets. Meanwhile, rental construction remains strong as developers shift focus toward purpose-built rental projects, which may help increase vacancy rates and slow rent growth.

Looking ahead, market conditions are expected to vary across Canada. Some regions may see gradual improvements in resale activity, while others continue to face challenges from slower population growth and economic uncertainty.

The broader economic outlook remains a key factor for the housing market. Ongoing global tensions, trade uncertainty, and cautious business investment are expected to limit economic growth in the near term. However, Western Canada is projected to show stronger performance compared with some other regions.

Overall, the housing market is expected to remain in a period of adjustment, with affordability, interest rates, economic conditions, and buyer confidence continuing to shape the path forward.

As housing affordability continues to challenge many Canadians, laneway homes are gaining attention as a potential solution for both younger buyers and older homeowners. These small, secondary homes built on existing residential properties can create additional living space, provide rental opportunities, and help families stay connected while maintaining independence.

For some families, laneway homes offer an alternative to purchasing an expensive starter home. Instead of searching for an affordable property in different cities, some buyers are turning to existing family properties as a way to create a home that fits their needs without the added costs of condominium fees or other restrictions.

The process of building a laneway home begins with understanding what is possible on the property. Homeowners must consider zoning rules, safety requirements, available space, utilities, and site conditions before moving into the design phase. Factors such as lot size, access, electrical lines, trees, and servicing requirements can all influence the final design and cost.

Construction timelines and expenses can vary depending on location, size, and design. In some cases, government incentives can help reduce costs and encourage homeowners to add more housing supply within existing neighbourhoods. However, the process can involve significant planning, permits, and coordination with builders and local authorities.

Beyond affordability, laneway homes are also becoming a way for families to support multigenerational living. Older homeowners can remain in neighbourhoods they love while creating space for adult children or future caregivers. At the same time, younger generations gain access to more attainable housing options.

As more communities adopt policies supporting additional housing units, laneway homes are becoming more common. While challenges remain around financing, appraisals, insurance, and resale value, these homes continue to provide a creative option for increasing housing supply and adapting existing neighbourhoods to changing family needs.

Edmonton’s real estate market has long been recognized as one of the most affordable among Canada’s major cities, but its luxury housing segment has experienced remarkable growth. A recent report found that sales of homes priced at $1.5 million or more in Edmonton increased by nearly 48 per cent year over year, the highest percentage growth in Canada. Between January 1 and April 30, 65 luxury homes were sold in the city, compared with 44 during the same period the previous year.

This increase reflects a broader national trend in which smaller and more affordable markets, including Edmonton, are seeing stronger luxury housing demand than some of Canada’s largest metropolitan areas. While luxury home sales declined in larger cities such as Vancouver and Toronto, several mid-sized markets experienced notable growth. These findings suggest that demand is shifting toward regions where buyers can access high-end properties at comparatively lower prices.

Luxury homes are also much more affordable in Edmonton than in Canada’s most expensive cities. In Edmonton, luxury properties generally begin at around $1.5 million, whereas comparable luxury homes in Vancouver typically start at about $3 million. The city’s luxury threshold has also increased over time, rising from approximately $1 million just two years ago as property values have continued to climb.

Growing home prices have contributed to an expanding pool of luxury buyers in Edmonton. Homeowners who sell properties at much higher values than in previous years are now able to move into the luxury market, often purchasing homes valued at more than $2 million. Increased migration in recent years also brought buyers from more expensive housing markets, many of whom viewed Edmonton’s real estate market as offering exceptional value.

Another emerging trend in Edmonton’s luxury housing market is a stronger focus on quality rather than size. Buyers are increasingly prioritizing premium design, high-end finishes, and craftsmanship over larger amounts of square footage. Overall, Edmonton’s luxury housing market continues to attract attention by offering upscale homes at prices that remain significantly lower than those found in Canada’s largest and most expensive real estate markets.

Canada’s housing market continued to gain momentum in June 2026, with national home sales rising 0.5% from May. This marks the third consecutive month of growth, following stronger gains in April and May, leaving sales activity approximately 7% higher than it was in March. Compared to June 2025, actual home sales were also up 0.9%, pointing to a steady recovery in buyer activity.

Market conditions are becoming more balanced as new listings declined by 1.3% for the second straight month while sales continued to edge higher. As a result, the national sales-to-new listings ratio improved to 50.2%, moving back above the 50% mark for the first time this year. This suggests that supply and demand are becoming more aligned, creating healthier market conditions for both buyers and sellers.

Home prices also showed signs of stabilization. The national Home Price Index remained unchanged from May to June, ending a stretch of monthly declines that began in early 2025. While prices remain 3.6% lower than they were a year ago, the pace of those declines has slowed considerably. The national average sale price reached $696,078 in June, representing a modest 0.5% increase compared to the same month last year.

Inventory levels remained relatively steady, with just over 208,000 properties listed for sale across the country at the end of June. There were 4.8 months of inventory available, unchanged from May and slightly below the long-term average of five months. These conditions continue to reflect a generally balanced market, with neither buyers nor sellers holding a significant advantage nationally.

Looking ahead, improving borrowing conditions and stabilizing home values are expected to encourage more buyers to return to the market. While activity may slow temporarily during the summer months, current trends suggest a stronger and more active housing market could emerge in the fall as more buyers and sellers move forward with their plans.

Boosting your home's curb appeal doesn't have to come with a high price tag. Simple, affordable improvements can make a strong first impression, helping your property stand out in listing photos and during showings. By focusing on a few key exterior features, you can create a more inviting and attractive entrance without taking on a major renovation.

One of the easiest ways to refresh your home's exterior is by updating the front door. A fresh coat of paint in a colour that complements the home's exterior can create an eye-catching focal point and a welcoming feel. Replacing dated hardware, adding a stylish doormat, or displaying a seasonal wreath are also inexpensive touches that can instantly enhance the entryway.

Small exterior details can have a surprisingly big impact. Replacing worn or outdated house numbers with a modern design adds a polished look while making the home easier to locate. Updating outdoor light fixtures can also improve both appearance and functionality, while solar-powered pathway lights provide additional safety and highlight walkways after dark.

Clean, well-maintained windows help showcase a home's best features by allowing natural light to shine through and creating a fresh, cared-for appearance. Washing windows inside and out can dramatically improve the overall look of the exterior. Adding window boxes filled with colourful flowers is another simple way to bring charm and visual interest to the front of the home.

Landscaping ties everything together and helps create lasting curb appeal. Colourful planters can brighten an empty porch and naturally draw attention to the entrance. Regular lawn care, trimming shrubs, pruning trees, and keeping garden beds free of weeds all contribute to a neat, well-maintained property that leaves a positive impression on visitors and potential buyers.

Canada’s housing market is expected to remain relatively quiet for the rest of the year, creating what some analysts describe as a favorable period for buyers before activity begins to increase again. While home sales are projected to stay subdued in the near term, price growth is expected to gradually accelerate in 2027 as market conditions improve.

Home prices have declined in several of Canada’s largest markets throughout much of the year. In the Greater Toronto Area, benchmark home prices were down 5.4 per cent in June compared with the same month last year, falling to $940,800. In British Columbia, the average home price declined 1.2 per cent in May to $947,859. Although sales are expected to improve in Ontario and British Columbia during the second half of the year, much of that increase reflects a recovery from a weaker-than-anticipated first half.

Improving affordability and a narrowing gap between buyer and seller price expectations are expected to support a gradual increase in market activity. Even so, housing sales are forecast to remain below their 10-year averages in both Ontario and British Columbia throughout next year. Home prices in both provinces are expected to return to positive growth in 2027, with British Columbia potentially recovering more quickly due to stronger performance in the luxury housing segment.

Across Canada, the average home price increased by 1.5 per cent over the month, reaching $702,079. Despite this monthly gain, national home prices are still expected to decline by approximately 0.3 per cent over the course of the year, reflecting ongoing weakness in overall market conditions.

Although home sales are projected to post modest gains, overall transaction volumes are expected to remain relatively low. Sales are not anticipated to return to pre-pandemic levels until the second half of 2027, with slower population growth and moderate hiring limiting demand. In Alberta, where the housing market has remained comparatively strong, home prices have risen 2.5 per cent so far in 2026. However, only modest price growth is expected for the remainder of the year, representing a more cautious outlook than previously forecast.

June home sales in Calgary improved from May, reaching 2,197 transactions, but remained nearly four per cent lower than the same time last year and slightly below the long-term average for the month. The slowdown was driven largely by weaker demand for apartment-style homes, while detached properties continued to show resilience. Sales have softened across most price ranges in 2026, although activity has remained stronger in both the most affordable homes and properties priced above $1 million.

Housing supply continues to reshape the market. New listings declined compared with 2025, slowing inventory growth and keeping the overall market in balanced territory with just over three months of supply. However, conditions vary by property type. Apartment condominiums have shifted firmly into a buyer’s market, with nearly five months of supply, giving buyers more choice and placing downward pressure on prices. Detached homes, by contrast, remain in a more balanced market due to tighter inventory.

Price trends reflect these changing conditions. The overall benchmark home price reached $572,500 in June, up from the previous month but two per cent lower than a year ago. Detached homes remained relatively stable, with a benchmark price of $750,500—up month over month but just over one per cent below last year. Apartment condominiums experienced the sharpest decline, with benchmark prices falling nearly nine per cent year over year to $299,000 as higher inventory and softer demand continued to weigh on the segment.

Market performance also differed across property types and neighbourhoods. Semi-detached and row homes remained generally balanced, supporting stable prices despite higher inventory than in recent years. Some areas continued to see strong price growth, while others experienced notable declines as supply outpaced demand. The greatest price weakness was concentrated in districts with the highest inventory levels, particularly for higher-density housing, while several districts reached new record highs for detached and semi-detached homes.

Communities surrounding Calgary experienced similar trends. Sales slowed in Airdrie, where increased inventory and competition from new construction contributed to lower resale prices, especially for higher-density homes. Cochrane remained relatively stable, with prices supported by tighter supply despite slower sales, while Okotoks continued to benefit from limited inventory, helping keep prices steady even as the market became more balanced than it was a year ago.

Condo affordability in Canada has improved considerably, with many markets returning to affordability levels not seen since before the pandemic. Nationally, the share of household income required to cover condo ownership costs has fallen to just over 35 per cent, bringing it close to 2019 levels. Lower condo prices, combined with rising household incomes, have made homeownership more accessible for buyers in this segment.

The strongest affordability improvements have been seen in cities such as Toronto and Victoria, where condo ownership has become more affordable than it was before the pandemic. However, the recovery has not been uniform across the country. In cities including Montreal, Quebec City, and Halifax, rapid population growth and limited housing supply have continued to keep condo prices elevated, slowing affordability gains.

Montreal has now become less affordable for condo buyers than Toronto for the first time in 16 years, while Halifax has narrowed the affordability gap significantly. Despite recent improvements, Halifax remains well above its 2019 affordability level, making it one of the markets where housing costs have increased the most since the pandemic.

Vancouver recorded the largest improvement in affordability during the first quarter of the year, although it remains Canada's least affordable housing market. Homeownership there still requires roughly 84 per cent of a typical household's pre-tax income. Toronto also posted stronger-than-average affordability gains for condos, thanks to price corrections and steady income growth. Detached homes, however, remain much less affordable, requiring more than 80 per cent of household income.

Looking ahead, further improvements in housing affordability are expected to be more challenging. Home prices have stabilized in many of Canada's major markets, and significant mortgage rate reductions appear unlikely in the near future. As a result, future affordability gains will depend largely on continued income growth, although a softer labour market could limit how much additional relief buyers receive.

Walkable communities are becoming some of the most desirable places to live in Calgary. As lifestyle preferences continue to evolve, more homebuyers are prioritizing neighbourhoods where everyday essentials, parks, restaurants, and local amenities are just a short stroll away.

Living in a walkable neighbourhood offers more than convenience. It encourages an active lifestyle, creates opportunities to connect with the community, and makes it easier to enjoy everything a neighbourhood has to offer without relying on a vehicle for every trip.

Many of Calgary's most sought-after communities were designed with walkability in mind, featuring tree-lined streets, nearby shops, green spaces, and easy access to pathways. These neighbourhoods continue to attract strong interest from buyers looking for both lifestyle and long-term value.

Homes in highly walkable areas often see increased demand because of their location and convenience. They also tend to appeal to a wide range of buyers, making them an attractive option for homeowners, investors, and those thinking about future resale value.

If you're considering a walkable neighbourhood, take the time to explore it on foot. Pay attention to the sidewalks, parks, lighting, nearby amenities, and overall atmosphere—you may discover that the perfect home is about more than the house itself; it's about the lifestyle that comes with it.