Canada’s housing market is showing signs of a gradual recovery, but we’re not heading for a major boom just yet. Since early Q2, I’ve seen resales pick up, inventories balance out, and price declines slow down or stabilize in many of the communities I work in, from Surrey and Vancouver to Abbotsford and Burnaby. According to the latest bank forecasts, 2026 could see home resales decrease by about 4% to 453,200, and benchmark prices may ease 2% to $794,200—even with the recent momentum. In 2027, they’re projecting a 7% rise in resales to 483,600, and a slight bump in benchmark values to $800,700. That points to a recovery, but not the overheated growth we saw in previous years. One thing supporting this outlook is pent-up demand: more than 400,000 households might have postponed buying since 2019. Of course, the pace of recovery will still depend on affordability, stable growth, and renewed confidence—especially as interest rates appear to have bottomed out and global trade tensions linger. I’ll be keeping a close eye on how these trends play out across our neighborhoods.
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