City housing market reports
We track housing market data for 32 Canadian cities and regions. Click any city below for the full report.
🇨🇦 March 2026 Snapshot Source: CREA, Apr 15 2026
⚠️ Double headwind: trade war uncertainty + fixed rates jumped above 4% mid-March. CREA revised 2026 forecast downward. BC & ON benchmarks -5 to -7% YoY — Quebec & Prairies still rising.
- National prices soft: avg $673,084 (-0.8% YoY); HPI benchmark -4.7% YoY — monthly pace of decline is slowing
- BC & Ontario under pressure: buyer's markets across the board; Vancouver -6.8%, Toronto -7.0%, with benchmark declines of 5–9% in most cities
- Prairies & Quebec leading: Calgary +2.4%, Edmonton +2.2%, Montreal +6.1% — fundamentals remain strong in more affordable markets
- Fixed rates jumped above 4% mid-March, adding friction heading into spring; CREA revised its 2026 forecast downward
- Inventory at decade highs in select markets: 167,524 active listings nationally — up 1% YoY but still 10.6% below the long-term average
Provincial housing market reports
We also publish detailed reports for all 10 Canadian provinces. Click any province for the full analysis.
British Columbia
▼ 2.0%
$939,846
Ontario
▼ 4.8%
$811,868
Quebec
▲ 6.0%
$511,850
Alberta
▼ 4.0%
$565,600
Nova Scotia
▲ 0.2%
$478,667
Prince Edward Island
▲ 1.2%
$415,000
Manitoba
▲ 1.6%
$405,514
Newfoundland & Labrador
▲ 0.1%
$352,854
Saskatchewan
▲ 6.0%
$363,800
New Brunswick
▲ 4.6%
$329,400
Ontario
Toronto
▼ 7.0%
$1,008,968
Hamilton
▼ 6.1%
$718,545
Waterloo Region
▼ 5.5%
$725,310
London
—
$627,112
Ottawa
▲ 0.9%
$692,584
Mississauga
▼ 7.6%
$966,615
Brampton
▼ 6.5%
$892,085
Markham
▼ 4.8%
$1,155,505
Oshawa
▼ 6.9%
$716,411
Guelph
▼ 6.0%
$715,000
Barrie
▼ 9.0%
$627,000
Niagara Region
▼ 8.0%
$560,000
British Columbia
Vancouver
▼ 6.8%
$1,104,300
Victoria
▼ 1.1%
$1,330,200
Burnaby
▼ 9.2%
$981,000
Richmond
▼ 7.2%
$1,062,000
Coquitlam
▼ 7.5%
$1,001,000
Surrey
▼ 8.7%
$949,300
Fraser Valley
▼ 8.7%
$930,000
Kelowna
▼ 2.3%
$1,047,900
Chilliwack
▼ 10.0%
$686,000
Kamloops
▲ 2.1%
$675,400
Quebec
Prairies
Calgary
▲ 2.4%
$627,776
Edmonton
▲ 2.2%
$470,819
Winnipeg
—
$400,000
Saskatoon
▲ 5.0%
$421,600
Regina
▲ 7.0%
$336,400
Atlantic Canada
More housing market data
- Housing Starts in Canada — monthly CMHC data on new residential construction, units under construction, and completions by province
- Average Mortgage Payment in Canada — monthly payment estimates by province, city, and home price with current 2026 rates
National market snapshot
For the latest national market interpretation, use the city and provincial reports above and the housing-starts companion hub. This page is optimized as a market directory and quick-reference index so readers can move directly to local data that matters for their buying or selling decision.
Canada’s housing market is best understood at the regional level. Conditions vary dramatically from coast to coast.
| Region | Market Conditions | Price Trend (YoY) | Months of Supply | Inventory |
|---|---|---|---|---|
| British Columbia | Buyer’s | Declining (-2.0% avg, -5.6% benchmark) | 7.8 months* | Elevated |
| Ontario | Buyer’s | Declining (-4.8% avg, -6.5% benchmark) | 4.6 months | Elevated |
| Prairies (AB, SK, MB) | Seller’s to balanced | Mixed (AB benchmarks -3% to -9%, SK +6.0%, MB +3.0%) | 2.1–4.3 months | Low to moderate |
| Quebec | Seller’s | Rising (+6% SF median, +6.9% benchmark) | 4.4 months* | Moderate |
| Atlantic Canada | Mixed | Mixed (NS +0.2%, NB +4.6% bench, NL +0.1%, PEI +1.2%) | 4.8–6.7 months | Moderate |
*February 2026 data.
The biggest story in March 2026 is the double headwind of trade war uncertainty and a mid-month jump in fixed mortgage rates. CREA has revised its 2026 sales forecast downward. British Columbia and Ontario continue to see the steepest year-over-year price declines, while Quebec and Saskatchewan post the strongest gains. Alberta’s market has shifted significantly — benchmark prices are now down year-over-year across all property types in Calgary, a reversal from the gains seen through most of 2025. Manitoba stands out as the tightest market nationally at just 2.1 months of supply.
Government housing policies in Canada
Federal and provincial governments have implemented several policies that significantly affect the housing market:
Mortgage stress test
All federally regulated lenders require borrowers to qualify at the greater of their contracted rate plus 2% or the Bank of Canada’s qualifying rate (currently 5.25%). This limits how much Canadians can borrow and is designed to ensure borrowers can handle rate increases. Use our mortgage qualification calculator or mortgage stress test calculator to see how this affects your borrowing power.
Foreign buyer ban
The Prohibition on the Purchase of Residential Property by Non-Canadians Act, originally effective January 1, 2023, restricts non-Canadians from purchasing residential property in Census Metropolitan Areas. The ban has been extended through January 1, 2027.
First Home Savings Account (FHSA)
Introduced in 2023, the FHSA lets first-time home buyers save up to $8,000 per year (up to a $40,000 lifetime limit) in a tax-advantaged account. Contributions are tax-deductible (like an RRSP) and withdrawals for a qualifying home purchase are tax-free (like a TFSA). Learn more with our FHSA calculator.
Home Buyers’ Plan (HBP)
The Home Buyers’ Plan lets first-time buyers withdraw up to $60,000 from their RRSPs to fund a home purchase. This can be combined with the FHSA for even more tax-advantaged savings toward a down payment.
CMHC mortgage insurance
Buyers with less than 20% down payment must purchase mortgage default insurance through CMHC, Sagen, or Canada Guaranty. Insurance premiums range from 2.8% to 4.0% of the mortgage amount depending on the down payment size. Use our mortgage insurance calculator to estimate your premiums.
Provincial policies
Individual provinces levy their own property transfer taxes and have additional regulations. Notable examples include British Columbia’s foreign buyer tax (20%) and speculation tax, Ontario’s non-resident speculation tax, and Quebec’s welcome tax (droits de mutation). See our land transfer tax calculator for province-specific calculations.
Useful housing calculators
Planning to enter the Canadian housing market? These tools can help you prepare:
- Mortgage Calculator — Estimate your monthly mortgage payments
- Mortgage Affordability Calculator — Find out how much home you can afford
- Income to Afford Home Calculator — See what salary you need for a given home price
- Land Transfer Tax Calculator — Calculate provincial and municipal transfer taxes
- Closing Costs Calculator — Estimate the total costs of buying a home
- Mortgage Insurance Calculator — Calculate CMHC insurance premiums
- Mortgage Stress Test Calculator — Check if you qualify under the stress test
- FHSA Calculator — Plan your first home savings
- Mortgage Rates — Compare current mortgage rates in Canada
Market analysis and trends
- Generational Homeownership Gap
- Home Prices vs Income Canada
- Household Net Worth Trends Canada
- Housing Affordability Canada
- Housing Affordability Index Canada
- Housing Bubble Analysis Canada
- Housing Crisis Canada Explained
- Housing Starts and Supply Gap Analysis
- Housing Supply Crisis Canada
- How Much Will Home Prices Increase?
- Investor Share of Home Purchases
- Mortgage Affordability by Generation
- Multigenerational Homes
Browse All Canada Housing Market Overview 2026 Articles
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