The Best Place to Work, Buy & Sell Real Estate

Despite economic uncertainty and rising costs, the desire to own a home remains strong. Around two-thirds of people say they have always dreamed of buying, and nearly one in three intend to purchase within the next two years. Homeownership continues to be viewed as a major financial milestone and a key step toward independence, though affordability is a persistent concern, with many saying it is something they think about regularly.

Perspectives on the housing market are divided, reflecting uneven conditions across different regions. Some believe sellers still hold the advantage, while others see more favourable conditions for buyers, particularly as activity slows in larger and more expensive urban centres while demand stays steadier in less dense areas. Overall, attitudes have shifted away from urgency and fear of missing out toward a more cautious mindset focused on timing and making informed decisions.

First-time buyers are gradually moving closer to entering the market, with many actively saving, yet uncertainty around affordability and mortgage requirements remains a major barrier. As a result, many expect to make trade-offs, such as delaying moving out or taking on additional income sources. Existing homeowners continue to see real estate as a solid investment and are open to relocating for more space, but concerns about rising costs—especially higher payments at renewal—are becoming increasingly prominent.

Many homeowners will face mortgage renewals after benefiting from historically low interest rates, and in 2026, this will be happening on a large scale. While most focus on higher monthly payments, few consider the condition of their home. Over time, systems wear down and small issues can become costly problems. This creates an opportunity for real estate professionals to add value by encouraging clients to check the state of their property before making financial decisions.

A simple way to do this is by suggesting a home inspection ahead of a mortgage renewal. Unlike inspections tied to buying or selling, this approach focuses on proactive maintenance. A homeowner who purchased years ago may not realize how much has changed. Knowing the current condition of key components allows for better budgeting and informed refinancing decisions, avoiding surprises.

Roofing and other major systems naturally age, and what once had years of life remaining may now need attention. A timely inspection can reveal issues before they turn into costly emergencies, giving homeowners the chance to plan ahead. Small problems, like early signs of water intrusion or ventilation issues, can also escalate if ignored. Inspections catch these early, often allowing inexpensive fixes instead of major repairs.

Periodic inspections cover all major systems—roofing, plumbing, electrical, structure, and HVAC—giving a full picture of the home’s health. Most homeowners only think of inspections when buying or selling, so this reminder is often new and appreciated. It’s a practical, low-effort way for professionals to demonstrate care for clients’ long-term well-being.

Recommending a periodic inspection also provides a natural reason to reconnect with past clients. In 2026, with mortgage renewals accelerating across Canada, this small suggestion can help homeowners avoid costly surprises while reinforcing trust in the professional relationship. It offers clarity, peace of mind, and the ability to plan proactively, leaving a lasting impression.

Canada’s housing market is entering a period of adjustment as weakening condominium presales begin to reshape the country’s development pipeline. Fewer buyers are committing to units before construction begins, a key requirement developers rely on to secure financing and launch projects. Combined with stricter lending conditions and higher borrowing costs, this drop in demand is slowing development activity. In many cases, projects are being delayed, cancelled, or redesigned, raising concerns that the housing supply coming in the next several years may not fully align with what future buyers are looking for.

One noticeable shift is that many developers are redirecting planned ownership projects toward rental housing. In the short term, this is increasing the supply of rental units and helping ease conditions in some markets that had experienced years of rapid rent growth. Recent construction activity and project completions have contributed to slightly improved rental availability in several major urban centres. However, the longer-term impact is less certain, since fewer condominium projects being launched today could mean fewer ownership opportunities later.

Condominiums have traditionally provided one of the most accessible entry points to homeownership, especially in large urban markets where land prices make low-density housing difficult to build. When presale demand weakens, developers often struggle to reach the financing thresholds needed to start construction. As a result, some projects are postponed while others are converted into purpose-built rental developments that are considered more viable under current market conditions. This trend highlights a broader shift in the balance between rental and ownership housing supply.

Housing conditions differ widely across Canadian cities. Some markets are still seeing strong construction activity and record housing starts, while others are experiencing slower development and a growing dominance of rental projects. In certain areas, government incentives, zoning changes, and relatively affordable housing have supported both rental and ownership construction. In faster-growing markets, however, labour shortages and construction capacity pressures are beginning to emerge as additional constraints on how quickly new homes can be built.

Overall, the evolving development landscape suggests that Canada’s housing challenge is not only about the total number of homes being built, but also about the types of homes entering the market. While increased rental construction may provide short-term relief for tenants, a prolonged slowdown in condominium development could reduce future options for buyers. Because housing projects take years to complete, today’s slowdown in presales may eventually translate into tighter ownership supply in the years ahead.

During periods of intense real estate activity, buyers often feel pressure to act quickly to secure a property. Competitive markets can encourage offers that contain few or no conditions, particularly when sellers favour clean agreements without financing or inspection clauses. While this strategy may increase the chances of an offer being accepted, it also exposes buyers to significant legal and financial risks if complications arise after the agreement is signed. A recent Ontario court decision highlights how failing to conduct proper due diligence before making an unconditional offer can result in substantial liability.

In this case, a buyer submitted an offer of $557,000 for a property during the peak of the real estate market in 2022. The offer was well above other bids and was accepted, creating a binding agreement of purchase and sale. Importantly, the agreement was not conditional on financing and included a clause confirming that the seller made no guarantees about whether the buyer’s future intended use of the property would be lawful unless specifically stated in the contract. The property had been used as a single detached home, and the agreement confirmed that the current residential use could continue.

The dispute arose when the buyer later attempted to withdraw from the transaction shortly before the scheduled closing date. She claimed the property had been misrepresented in the listing as having residential zoning, when the municipality had adopted a comprehensive zoning by-law the previous year that categorized the property under a different designation. Although the zoning permitted the continued residential use of the home, the buyer argued that the designation could affect her renovation plans and the terms of her mortgage financing. As a result, she refused to complete the purchase.

After the buyer failed to close, the sellers were forced to place the property back on the market. Several months later, they sold it for $329,000, significantly less than the original purchase price. The sellers then commenced legal action seeking damages for the financial losses caused by the failed transaction, including the difference in sale price and additional carrying costs. During the court proceedings, evidence was presented showing that the buyer had already investigated the property’s zoning before submitting her offer. Text messages demonstrated that she had discovered the correct zoning designation on the day she viewed the property and before she entered into the agreement.

The court concluded that although the listing contained an incorrect description of the zoning, the buyer did not rely on that statement when making her offer because she already knew the property’s true zoning status. Given this finding, her attempt to withdraw from the contract was not justified. The court therefore ruled in favour of the sellers and ordered the buyer to pay more than $213,000 in damages after accounting for the deposit. The decision underscores the importance of conducting thorough investigations into zoning, financing, and other key issues before submitting a binding offer, particularly when choosing to proceed without protective conditions.

The Greater Toronto housing market continued to show signs of weakness in February, with only limited indications of recovery. Home prices posted a slight month-over-month increase, but they remain notably lower than both last year’s levels and the peak reached during the market surge earlier in the decade. In fact, current prices are roughly comparable to those seen about four years ago. While the modest price increase may suggest some stabilization, seasonally adjusted figures indicate that underlying market momentum remains soft and has yet to establish a clear upward trend.

Sales activity remains one of the market’s biggest challenges. The number of homes sold in February declined compared with the same period last year and remains far below the record levels seen during the housing boom. Although winter months are typically slower for real estate transactions, this February ranks among the weakest in many years. At the same time, demand has not been strong enough to absorb the available supply, highlighting the cautious stance many buyers continue to take.

Inventory conditions further illustrate the current imbalance. While new listings decreased compared with the previous year, the total number of active listings on the market remains relatively high, meaning many properties are taking longer to sell. Market balance indicators still point to conditions that favor buyers, as demand remains insufficient to significantly reduce available supply. Overall, the February data suggests that the Toronto housing market remains in a period of slow activity, and a stronger recovery will likely depend on improved affordability and a rebound in buyer confidence.

In February, Calgary's real estate market showed mixed conditions across property types. Detached homes experienced tight market conditions, with less than three months of supply, driven by strong demand and limited inventory. Meanwhile, apartment-style properties faced oversupply, as increasing listings and slowing migration contributed to a buyer's market. Despite record construction levels for apartments, the excess supply continued to pressure condo prices downward. Detached homes, particularly those under $700,000, remained in high demand, while higher-priced detached homes and semi-detached homes saw more balanced conditions.

Citywide, the market remained relatively stable with a three-month supply and a 55% sales-to-new-listings ratio. February saw 1,526 sales, an 11% decline from the previous year, largely due to weaker apartment and row home sales. However, benchmark prices for most property types increased by 1% from January, though they were still 4% lower year-over-year. The apartment market continued to struggle, with declining prices, while detached homes and semi-detached homes saw slight price gains due to tighter supply.

Detached homes saw stable sales and new listings, with 736 sales and 1,269 new listings in February. This resulted in a 58% sales-to-new-listings ratio, keeping inventory levels balanced at just under three months. The benchmark price for a detached home rose to $734,300, a 1% increase from January but still 3% lower than last year. Semi-detached homes experienced tighter conditions with 175 sales and 253 new listings, dropping the months of supply to 2.4. Their benchmark price increased by 2% to $682,200 compared to January.

Row homes saw a slight market pickup with 270 sales in February, bringing the sales-to-new-listings ratio to 55%. Prices rose to $423,600, aligning with typical seasonal trends. However, prices were still 5% lower year-over-year, with notable declines in the Northeast and East districts. The apartment condominium sector continued to face high inventory, leading to a low sales-to-new-listings ratio of 46%. The benchmark price fell to $298,600, nearly 1% lower than January and over 9% lower than last year, with significant price drops in the Northeast, East, and Southeast.

In the regional markets, Airdrie, Cochrane, and Okotoks showed varied conditions. Airdrie’s market remained balanced, with prices 5% lower than last year due to increased competition from new homes. Cochrane’s market saw stable conditions with a sales-to-new-listings ratio of 59%, while Okotoks experienced tighter conditions with under three months of supply, pushing prices up by 2% from January. Overall, Calgary's market showed strength in detached and semi-detached homes but struggled with excess supply in the apartment sector.

As Canada enters 2026, its office and industrial real estate markets are showing signs of stabilization after a period of significant disruption due to the pandemic, shifts toward remote work, and global trade uncertainties. According to a recent report, the commercial real estate sector is adapting to changing business dynamics, with companies focusing on long-term space planning rather than reacting to short-term developments. The office market, especially in downtown areas, was hit hard during the pandemic when remote work became the norm. However, with many employers bringing workers back to the office, leasing activity is gradually recovering. While the market will not return to pre-pandemic levels, it is evolving with more intentional use of office space. Employers are placing greater emphasis on how space is utilized, prioritizing collaboration and enhancing the employee experience. Major employers across Canada, including key financial and corporate institutions, have implemented return-to-office policies, with most requiring employees to be in the office three to five days a week. This shift is expected to stabilize the office leasing market, particularly in urban centers. In 2026, most real estate professionals anticipate stable or modestly increased demand for office space, alongside a reduction in vacancy rates.

The industrial sector, which initially saw strong demand post-pandemic, is now facing headwinds due to ongoing trade disruptions, tariff pressures, and broader economic uncertainties. Manufacturing sales, a key driver for industrial real estate, have slowed, and as a result, demand for warehousing and distribution space has cooled. Despite these challenges, the industrial market remains relatively balanced, supported by the continued evolution of supply chains and a focus on creating efficient, modern industrial facilities. Experts predict that industrial space demand will increase in several regions in 2026, though growth may be tempered by the current economic climate and trade tensions. While some areas are experiencing a decline in demand due to external pressures, regions with diversified economies and robust logistics infrastructure are holding up better.

The pace of recovery in office and industrial markets varies significantly by region. Larger cities, such as the Greater Toronto Area, are seeing a strong rebound in office leasing, driven by the return-to-office trend. Meanwhile, other cities, like Vancouver and Calgary, have largely transitioned back to in-person work or continue to lag behind in this recovery. Similarly, the industrial market is experiencing divergent trends across different cities. Areas more heavily reliant on manufacturing and export-driven industries are grappling with the effects of trade disruptions, while regions with stronger logistics infrastructure and a focus on domestic markets are faring better.

Looking ahead to 2026, the commercial real estate market in Canada appears to be on a path toward greater stability, with businesses adopting a more strategic approach to space planning. While challenges remain, especially in the industrial sector, there is optimism for steady growth and a more predictable environment. The varying conditions across cities highlight the importance of understanding regional dynamics, economic drivers, and sector-specific trends when assessing market performance.

The current real estate market, particularly in cities like Toronto, has created a challenging situation for buyers who purchased pre-construction homes during a market peak. These buyers were initially enticed by the prospect of securing a property at a price that seemed reasonable in a hot market. However, with property values now having dropped significantly, many are finding themselves in a tough spot. What once appeared to be a smart investment is now becoming a financial burden.

Many buyers who signed contracts for new condos at inflated prices in the past few years are now facing appraisal values much lower than what they agreed to pay. As a result, financing for the purchase is no longer available, and the difference between the agreed-upon price and the appraised value must be covered out of pocket. In some cases, developers, who are unwilling to absorb the loss, may retain deposits or fees, and buyers may even face legal action to recover the lost value, further complicating their situation.

For these buyers, the situation is made even worse by the limited options available. One potential solution is to offload a pre-construction property by assigning the contract to another buyer, but this process is not straightforward. Builders typically require approval for assignments and may charge hefty fees for this service. Moreover, even if assignment is an option, it’s not guaranteed that another buyer will take on the property at the same price, especially in a market where supply exceeds demand.

The dynamics of the current market, with an oversupply of condos and declining demand, make it even harder for pre-construction properties to retain their value. Buyers who were once seeing rapid increases in the value of their homes are now left holding properties that have lost significant worth. The risk that seemed like a good bet in a booming market has now turned into a financial challenge for many.

This situation is largely a result of market speculation, where buyers were motivated by the expectation that property values would continue to rise. However, as the market cooled and values dropped, the reality of long-term contracts with fixed prices far above current market conditions has created a financial gap that buyers are struggling to bridge. While potential solutions, such as regulatory changes or policies to mitigate risks, are difficult to implement, experts emphasize the importance of understanding the risks of entering into long-term contracts in a fluctuating market. Ultimately, this serves as a cautionary tale for future buyers, highlighting the need for careful consideration of the potential long-term implications before committing to such a significant investment.

A developer in Canada is offering a temporary refund program for homebuyers who purchase preconstruction homes that experience a price drop before their closing date.

This limited-time offer is available to eligible buyers in select regions, specifically Ontario and Alberta, and includes condos and low-rise homes in various communities. The program, called the “Price Protection Program,” ensures that homebuyers will receive a refund for the difference in price if the value of their home decreases after the purchase agreement, but prior to closing. The policy applies to a range of communities in Ontario, including the Greater Toronto Area, as well as areas in Alberta.

The process is straightforward: if the price of a property drops within 30 days of closing, the buyer will be reimbursed the difference, with the calculation based solely on the base price of the home. This policy does not account for upgrades or premiums added to the home’s price, and it focuses specifically on comparing the same base model in the same neighborhood.

The initiative is intended to give potential buyers more confidence in purchasing a home amidst market uncertainty. With a slower housing market in Ontario and declining sales, particularly in the Greater Toronto Area, the policy aims to attract hesitant buyers who may be worried about future price drops.

Industry experts have mixed opinions on the effectiveness of this program. While some see it as an innovative marketing tool to stimulate demand in a sluggish market, others believe it may be more of a publicity stunt. The policy’s fine print specifies that the protection only applies if an identical model in the same phase drops in price, meaning fluctuations in the overall market are not covered.

Despite some skepticism, the program resonates with buyers who are more focused on long-term homeownership than short-term market fluctuations. Developers see it as a way to incentivize buyers, particularly those looking for stability in uncertain times.

This offer is currently set to end on March 8, though interest in the program has been strong, and the developer has hinted that future discussions may take place to determine if it will be extended or expanded.

National home sales in January 2026 saw a significant month-over-month decline, largely due to the impact of severe winter weather in regions like the Greater Golden Horseshoe and Southwestern Ontario. The market slowdown seems more attributable to these weather disruptions than any fundamental shift in demand. Experts are still optimistic for the year ahead, believing that pent-up demand, particularly from first-time buyers, will drive market activity once conditions stabilize.

Overall, national home sales fell by 5.8% compared to December 2025, and were 16.2% lower than the same time last year. Despite the slowdown in sales, the number of newly listed properties rose by 7.3%, indicating that sellers were eager to re-enter the market. The MLS® Home Price Index (HPI) also experienced a month-over-month decline of 0.9%, and was down 4.9% compared to January 2025. The national average sale price dipped by 2.6% year-over-year.

A surge in new listings was seen across many regions, with notable increases in Montreal, Quebec City, Calgary, Greater Vancouver, and Victoria. However, Central and Southwestern Ontario were less active, likely due to the winter storm's effects on both supply and demand. This seasonal fluctuation reinforced the idea that local weather conditions can have a significant impact on the housing market during the colder months.

The sales-to-new-listings ratio for January dropped to 45%, down from 51.3% at the close of 2025. This shift signals a move toward more balanced market conditions, with the long-term average for this ratio being 54.8%. A balanced market generally falls within a ratio range of 45% to 65%, suggesting that the housing market is moving away from the more competitive conditions seen in previous months. The total inventory of homes for sale at the end of January stood at 140,680, a 4.5% increase from the previous year, but still 11.4% below the long-term average for this time of year.

Regionally, the performance of home prices varied. While prices in British Columbia, Alberta, and Ontario remained lower compared to the previous year, some other provinces saw gains. The largest year-over-year declines were observed in Hamilton-Burlington and Oakville-Milton, while Sudbury, Quebec City, and St. John’s, Newfoundland, experienced double-digit price increases. The national average home price in January 2026 was $652,941, marking a 2.6% decrease compared to January 2025, reflecting the overall cooling of the market from the previous year.

When a buyer backs out of a property deal, the seller is usually entitled to keep the deposit and may pursue additional compensation for the breach of the purchase agreement. The seller is obligated to take reasonable steps to reduce their losses, typically by attempting to resell the property. If the market is experiencing a downturn, the resale price could be much lower than the original agreed-upon amount, and the buyer may be held liable for covering the difference. This principle is rooted in the idea that the seller has lost the benefit of the original contract due to the buyer’s failure to complete the transaction.

In cases like this, the buyer might attempt to argue that the seller did not take sufficient steps to mitigate their losses by failing to secure the best resale price. However, the burden of proof is on the buyer to provide compelling evidence to support this claim.

This issue was highlighted in a legal case involving a property transaction in Ontario, where the buyer entered into an agreement to purchase a property for a substantial sum. The buyer was unable to complete the transaction by the agreed date, and after several extensions and additional deposits, the purchase still didn’t go through. The seller eventually sold the property at a much lower price, leading to a claim for damages, including the difference between the original and resale prices.

The buyer contested the damages, arguing that the seller had not properly mitigated their losses by failing to relist the property at a lower price, among other things. The buyer also suggested the seller should have accepted a lower offer that included a vendor-financed mortgage. However, the seller provided evidence showing that they had relisted the property at the same price, reduced the price multiple times, and marketed it through various channels. Crucially, the buyer did not present any evidence, such as an appraisal, to show that the property had been sold for less than its market value.

In response to the seller's motion for summary judgment, which sought to have the court rule without a full trial, the judge emphasized that the buyer had to provide strong evidence to contest the seller's efforts to mitigate damages. Ultimately, the judge found that the seller had made reasonable efforts to market the property and sell it for the best available price. As a result, the court ruled in favor of the seller, awarding damages that included the price difference, carrying costs, interest, and litigation costs.

This case underscores the importance of both parties' actions in the event of a failed real estate transaction. Sellers must show that they took reasonable steps to minimize their losses, such as relisting the property promptly, reducing the price when necessary, and employing effective marketing strategies. On the other hand, buyers seeking to avoid liability for the difference in the resale price face a heavy burden in proving that the seller did not take adequate steps to mitigate the damages. In this case, the buyer was held liable for the full difference in the sale price, highlighting the significant financial consequences of breaching a high-value property transaction.

Buying your first home is an exciting milestone, but it can also feel overwhelming. From navigating financing to choosing the right neighborhood, the process requires careful planning and knowledge. To help you get started, here are some essential tips every first-time homebuyer should keep in mind.

1. Know Your Budget and Get Pre-Approved
Before starting your home search, it’s crucial to understand what you can afford. Factor in not just the price of the home but also additional costs like property taxes, insurance, and maintenance. Getting pre-approved for a mortgage is essential — it gives you a clear price range and shows sellers you’re serious.

2. Understand the Difference Between Pre-Qualification and Pre-Approval
While pre-qualification is a simple, informal process, pre-approval is more in-depth and involves submitting documents for a credit check. A pre-approval letter makes you a stronger buyer, especially in competitive markets.

3. Research the Neighborhood
The neighborhood is just as important as the house itself. Consider the safety, school ratings, proximity to work or amenities, and general vibe. Take the time to visit at different times of day and get a true sense of what living there would be like.

4. Factor in Closing Costs
Many first-time buyers overlook closing costs, which can be 2-5% of the purchase price. These fees include things like appraisal, title insurance, inspection costs, and possibly HOA fees. Plan ahead to ensure you have enough saved for both your down payment and closing costs.

5. Never Skip the Home Inspection
A home inspection is crucial, even if the house seems perfect. It can uncover hidden problems like structural issues or plumbing and electrical concerns that could cost you down the line. It’s an essential step in ensuring your investment is sound.

6. Consider Future Resale Value
Even though you’re buying for the present, it’s wise to consider the home’s future resale potential. Look for homes in desirable neighborhoods or with features that buyers will find appealing in the future, such as extra bedrooms, updated kitchens, or good school districts.

7. Explore First-Time Buyer Programs
Many government programs offer assistance to first-time buyers, including down payment assistance and lower mortgage rates. Research programs available in your area and take advantage of them to save money upfront.

8. Stick to Your Budget
It’s easy to get carried away with a dream home, but it’s important not to overextend yourself financially. Stretching your budget too thin could lead to stress and make it harder to manage your finances in the future. Stick to a price range that keeps you comfortable.

9. Work with an Experienced Agent
A skilled real estate agent can be your biggest asset in the home-buying process. They’ll help you find properties within your budget, negotiate offers, and guide you through the paperwork. Find an agent who specializes in working with first-time buyers and knows the local market well.

10. Be Patient and Flexible
The home-buying process can take time, and it’s important to stay patient. Don’t be discouraged if the first few homes you see don’t work out. Also, be flexible — while it’s great to have a wishlist, you may need to compromise on certain features to find a home that fits your needs and budget.

Buying your first home is a major step, but with the right preparation and advice, it can be a rewarding experience. By following these tips, you’ll be better equipped to navigate the process confidently and find a home that’s perfect for you. Happy house hunting!