Canada’s housing market is showing cautious signs of recovery, with early 2024 momentum reflected in steadier resales, flat inventory, and more stable prices. As affordability improves and employment strengthens, it’s encouraging to see buyer confidence pick up—especially among those who had paused their search and are now better positioned financially. For 2026, the latest forecast points to a roughly 4% dip in resales to about 453,000 units and a 2% decrease in benchmark prices to $794,000, before modest gains are projected to return in 2027. Borrowing costs are holding near recent lows and the central bank is expected to maintain rates, but potential trade tensions and energy price shocks remain on my radar as factors that could impact this progress. While the forecast anticipates increases in both resales and prices across all provinces by 2027, the overall recovery is described as steady rather than dramatic. For those considering their next move in markets like Surrey, Vancouver, or beyond, keeping an eye on these trends is key to informed decisions.
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