Canadian Housing Market Report
*Seasonally Adjusted
Note: Data sourced from the Canadian Real Estate Association (CREA)
Canadian Housing Market Data for April 2026
Canada Real Estate Market Trends
Average Home Prices by Province (April 2026)
Provincial Average Home Sale Prices
Canada
Canada's housing market showed another modest improvement in April 2026, with more than half of Canada's provinces breaking all-time price records, sales edging higher from March 2026, and the national average home price rising above both March 2026 and April 2025 levels. The national average home price rose to $695,412, up 3.3% month-over-month from $673,084 in March 2026 and 2.2% above the $680,336 recorded in April 2025.
The national benchmark home price, which measures the price of a 'typical' home, edged up to $666,400 in April 2026 from $664,400 in March 2026, a +0.3% monthly move, but remained 4.1% below April 2025. This points to a market that is stabilizing but not yet broadly accelerating. With 5.3 months of inventory in April 2026, national market conditions remained broadly balanced.
Market Insights for April 2026
| Sales | -4.2% Year-over-Year |
| New Listings | +4.1% Month-over-Month |
| Active Listings | +2.2% Year-over-Year |
Note: Sales are seasonally adjusted
Nationally, 35,578 homes were sold on a seasonally-adjusted basis in April 2026, up 0.7% from 35,321 in March 2026 but 4.2% below the 37,136 homes sold in April 2025. The monthly improvement was modest, but it continued the spring-market stabilization seen in March 2026. British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia, New Brunswick, PEI, and Newfoundland all posted month-over-month sales gains, while Quebec sales moved lower from March 2026.
Inventory conditions loosened in April 2026 as spring listings returned to the market. National months of supply increased to 5.3 months, while the national sales-to-new-listings ratio eased to 45.6% from 47.8% in March 2026. Active listings were 2.2% above April 2025, leaving buyers with more choice than a year earlier, even as prices showed signs of stabilizing.
Provincial Price Record Breakers for April 2026
| Quebec | 🏆🏆 | Record-Breaking Benchmark ($550,800) Price 4 Consecutive MonthsRecord-Breaking Average ($566,364) Price |
| Nova Scotia | 🏆🏆 | Record-Breaking Benchmark ($440,800) PriceRecord-Breaking Average ($515,846) Price |
| Saskatchewan | 🏆🏆 | Record-Breaking Benchmark ($374,300) PriceRecord-Breaking Average ($373,199) Price |
| Newfoundland | 🏆 | Record-Breaking Benchmark ($339,400) Price |
| New Brunswick | 🏆 | Record-Breaking Average ($363,668) Price |
| Manitoba | 🏆 | Record-Breaking Average ($423,341) Price |
Six provinces broke all-time price records in April 2026. Quebec reached another all-time high in its benchmark home price in April 2026, rising to $550,800. This marks the fourth consecutive month of record benchmark pricing for Quebec. Saskatchewan, Newfoundland and Nova Scotia also broke their benchmark price records.
Meanwhile, Quebec, Nova Scotia, Saskatchewan, Manitoba, and New Brunswick saw their highest-ever average home sold prices in April 2026.
Benchmark Home Prices by Province (April 2026)
| Province | April 2026 Benchmark Home Price | Monthly Change (%) | Annual Change (%) |
|---|---|---|---|
| British Columbia | $889,800 | 0.1% | -5.7% |
| Ontario | $752,400 | 0.4% | -5.7% |
| Quebec | $550,800 | 0.3% | 5.0% |
| Alberta | $514,000 | 0.9% | -2.4% |
| Nova Scotia | $440,800 | 0.8% | 2.4% |
| PEI | $378,900 | 0.5% | 4.0% |
| Saskatchewan | $374,300 | 0.1% | 4.5% |
| Newfoundland | $339,400 | 1.6% | 9.8% |
| New Brunswick | $324,400 | -1.5% | 1.3% |
| Canada | $666,400 | 0.3% | -4.1% |
Benchmark Prices Across Canada
Benchmark prices were again mostly positive on a month-over-month basis in April 2026. Nationally, the benchmark rose 0.3% from March 2026 to $666,400, although it remained 4.1% lower than in April 2025.
Year-over-year benchmark declines were still the largest in British Columbia and Ontario, both down 5.7% versus April 2025, followed by Canada overall at -4.1% and Alberta at -2.4%. By contrast, Newfoundland (+9.8% versus April 2025), Quebec (+5.0%), Saskatchewan (+4.5%), PEI (+4.0%), Nova Scotia (+2.4%), and New Brunswick (+1.3%) continued to post positive annual benchmark price growth.
On a month-over-month basis, benchmark prices increased in nearly every province with available data in April 2026. Newfoundland posted the strongest monthly gain at 1.6%, followed by Alberta (+0.9%), Nova Scotia (+0.8%), PEI (+0.5%), Ontario (+0.4%), Quebec (+0.3%), British Columbia (+0.1%), and Saskatchewan (+0.1%). New Brunswick was the exception, with its benchmark price falling 1.5% from March 2026. Manitoba benchmark data is not available.
Months of Supply
Months of supply was 5.3 months nationally in April 2026. Canada remained broadly balanced, although market conditions continued to vary significantly by region.
British Columbia (6.8 months) remained the most buyer-friendly provincial market in the tracker. PEI (5.7 months), Newfoundland (5.4 months), Nova Scotia (5.4 months), Ontario (4.5 months), Quebec (4.3 months), and New Brunswick (4.2 months) were in balanced territory.
Saskatchewan (2.8 months) and Alberta (2.7 months) remained the tightest provincial housing markets in Canada.
Months of Supply
| Jurisdiction | April 2026 Months of Supply |
|---|---|
| Canada | 5.3 months |
| British Columbia | 6.8 months |
| PEI | 5.7 months |
| Nova Scotia | 5.4 months |
| Newfoundland | 5.4 months |
| Ontario | 4.5 months |
| Quebec | 4.3 months |
| New Brunswick | 4.2 months |
| Saskatchewan | 2.8 months |
| Alberta | 2.7 months |
Note: Calculated as actual active listings/actual sales for the month
Today's Mortgage Rates
| 1-Year Fixed | 2-Year Fixed | 3-Year Fixed | 4-Year Fixed | 5-Year Fixed | 5-Year Variable | |
|---|---|---|---|---|---|---|
| Lowest Rates | % | |||||
| Average Rates (10 Lenders) | 5.25% | 4.8% | 4.6% | 4.62% | 4.59% | 3.94% |
| 30-Days Change of Average Rates | 0 bps higher | 8 bps higher | 2 bps higher | 4 bps higher | 7 bps higher | -1 bps lower |
| Term | Lowest Rates | Average Rates (10 Lenders) | 30-Days Change of Average Rates |
|---|---|---|---|
| undefined-Year Fixed | % | 5.25% | 0 bps higher |
| undefined-Year Fixed | % | 4.8% | 8 bps higher |
| undefined-Year Fixed | % | 4.6% | 2 bps higher |
| undefined-Year Fixed | % | 4.62% | 4 bps higher |
| undefined-Year Fixed | % | 4.59% | 7 bps higher |
| undefined-Year Variable | % | 3.94% | -1 bps lower |
The basket of 10 lenders includes: CIBC, BMO, TD, Scotiabank, RBC, National Bank, Desjardins, nesto, Tangerine, First National.
Regional Analysis
Ontario
Ontario's housing market continued to recover in April 2026, with prices and sales both rising from March 2026. The average home price increased 3.4% month over month to $839,112 from $811,868 in March 2026, though it was still 1.8% below April 2025.
The benchmark price increased to $752,400 in April 2026 from $749,200 in March 2026, a 0.4% monthly gain, while remaining 5.7% below April 2025.
Ontario home sales rose to 14,927 in April 2026, up 20.1% from 12,424 in March 2026 and +1.3% from April 2025. With 4.5 months of inventory, Ontario remained in balanced territory, while still offering buyers more selection than the Prairie markets.
The average home sold price in the GTA was $1,051,969 in April 2026, representing a decrease of 5.0% year-over-year. GTA home sales rose 6.2% year-over-year to 5,946 transactions in April 2026, while the GTA's MLS HPI Composite benchmark was down 6.6% year-over-year.
British Columbia
Home prices in British Columbia's housing market move higher in April 2026. The average home price increased 1.4% from March 2026 to $952,768, and was 0.8% above the $944,796 recorded in April 2025.
Home sales in British Columbia climbed to 6,311 in April 2026, up 9.5% from 5,766 in March 2026, while remaining 1.9% lower than the 6,435 sales recorded a year earlier. Despite the pickup in activity, British Columbia remained Canada's most buyer-friendly provincial market, with 6.8 months of inventory in April 2026. Greater Vancouver's average home price for April 2026 was $1,209,774, down 0.1% year-over-year and up 0.7% month-over-month.
Quebec
Quebec remained one of Canada's firmer housing markets in April 2026, although sales cooled from March 2026. The average home price rose to $566,364, up 1.6% from $557,358 in March 2026 and 4.9% from $539,856 in April 2025.
Quebec home sales reached 9,532 in April 2026, down 4.7% from 10,007 in March 2026 and 5.9% below the 10,130 transactions recorded in April 2025. With 4.3 months of inventory, Quebec remained broadly balanced, but still tighter than Ontario and British Columbia.
Quebec City also remained resilient. The average home price was $489,274 in April 2026, up 1.2% from $483,620 in March 2026 and 7.4% higher than the $455,704 recorded in April 2025. Sales totalled 1,006 in April 2026, down 8.7% from March 2026 and 7.5% below April 2025.
The Montreal housing market saw its average home price rise 3.3% annually to $667,465 for April 2026.
The Prairies
Alberta
Alberta's housing market tightened further in April 2026, with prices and sales both moving higher from March 2026. The average home price increased 1.4% month over month to $540,492 from $533,201 in March 2026.
Sales climbed to 6,952 in April 2026. New listings totalled 12,032, leaving the sales-to-new-listings ratio at 57.8%. With 2.7 months of supply, Alberta remained one of the country's clearest seller's markets.
The average home price in Calgary was $651,895, up 0.8% year-over-year, while Edmonton home prices had a 1.8% annual increase to $478,902.
Saskatchewan
Saskatchewan's housing market strengthened again in April 2026, with both prices and sales posting monthly gains. The average home price rose to $373,199, up 5.3% from $354,338 in March 2026. Saskatchewan's April benchmark price was $347,300. Sales climbed to 1,404 in April 2026, up 11.8% from 1,256 in March 2026. New listings totalled 2,109, leaving the sales-to-new-listings ratio at 66.6%. With 2.8 months of supply, Saskatchewan remained one of the tightest provincial housing markets in Canada.
Saskatoon's housing market remained strong. The average home price was $451,089 in April 2026, down 0.7% from $454,246 in March 2026 but up 8.0% year-over-year. Sales increased to 568 in April 2026, up 18.1% from 481 in March 2026 and unchanged from a year earlier.
Regina also saw stronger pricing in April 2026. The average home price increased to $358,093, up 5.3% from $340,183 in March 2026 and 4.0% above April 2025 levels. Sales totalled 462 in April 2026, rising 13.8% from March 2026 but sitting 5.0% below a year earlier.
Manitoba
Manitoba's housing market reached a new price high in April 2026. The average home price climbed to $423,341, a 4.4% increase from $405,514 in March 2026 and 4.9% above April 2025.
Sales rose to 1,465 in April 2026, up 22.5% from 1,196 in March 2026, though still 9.7% lower than the 1,622 sales recorded a year earlier. New listings totalled 2,307, leaving the sales-to-new-listings ratio at 63.5%. Winnipeg's average home price rose to $436,153 in April 2026.
Atlantic Canada
Nova Scotia
Nova Scotia's housing market strengthened sharply in April 2026. The average home price rose 7.8% month over month to $515,846 from $478,667 in March 2026 and was 7.6% above the $479,411 recorded in April 2025.
Sales reached 822 in April 2026, up 10.0% from 747 in March 2026, but still 19.2% lower than April 2025 levels. New listings came in at 1,995, while the sales-to-new-listings ratio eased to 41.2%. With 5.4 months of inventory, Nova Scotia remained in balanced territory. In Halifax's housing market, the average home price rose to $657,061 in April 2026, up 7.7% from March 2026 and 8.9% above April 2025.
Prince Edward Island
PEI's housing market recovered on the sales side in April 2026, although average prices moved lower from March 2026. The average home price slipped to $398,673, down 4.4% from $416,973 in March 2026 and 5.2% below the $420,541 recorded in April 2025.
Sales increased to 184 in April 2026 from 128 in March 2026 and were 1.1% above April 2025. New listings rose to 377, leaving the sales-to-new-listings ratio at 48.8%. PEI had 5.7 months of inventory in April 2026, placing it in balanced but buyer-friendly territory.
New Brunswick
New Brunswick's average home price was $363,668 in April 2026, up 6.6% from $341,295 in March 2026. On a benchmark basis, the province's benchmark home price was $324,400 in April 2026, down 1.5% from March 2026 and up 1.3% from April 2025.
Sales totalled 789 in April 2026, up 32.2% from 597 in March 2026 but 13.0% below April 2025. New listings reached 1,524, leaving the sales-to-new-listings ratio at 51.8%. With 4.2 months of supply, New Brunswick remained broadly balanced.
The average home prices in New Brunswick's major cities in April 2026 were:
- Fredericton at $394,596 (sales: 238)
- Moncton at $375,140 (sales: 273)
- Saint John at $386,482 (sales: 165)
Newfoundland and Labrador
Newfoundland's housing market held steady in April 2026. The average home price rose to $355,067, up 0.6% from $352,854 in March 2026 and 8.7% from $326,649 in April 2025. The benchmark price stood at $339,400 in April 2026.
Sales were unchanged at 357 in April 2026, compared with 357 in March 2026, but were 11.9% lower than a year earlier. New listings totalled 778, leaving the sales-to-new-listings ratio at 45.9%. With 5.4 months of inventory, Newfoundland remained balanced.
Analysis
The sales picture across Canada in April 2026 looked steadier than earlier in the year, but the improvement was uneven. National sales edged up only modestly from March 2026, while most provinces recorded monthly sales gains. Quebec was the main exception, with sales cooling from the very strong March 2026 level.
Regional differences remained pronounced in April 2026. Ontario and British Columbia continued to look softer on a year-over-year benchmark basis, while Quebec, Saskatchewan, Manitoba, and much of Atlantic Canada showed firmer average-price trends. Prairie markets remained the tightest, supported by low months of supply and relatively strong sales-to-new-listings ratios.
Inventory loosened nationally in April 2026 as spring listings returned. British Columbia remained the most buyer-friendly provincial market, while Alberta and Saskatchewan stayed in seller's-market territory. That left Canada entering the late spring 2026 market with a familiar split: tighter Prairie markets and more balanced conditions across much of the rest of the country.
📊 2026 Canada Housing Market Forecast
The national housing market in 2026 is forecast to see muted sales growth and stagnant national prices, driven by a dynamic conflict between demand (immigrants) and supply-side costs (trade war) that is left unbalanced by a stable interest rate environment.
| Category | Outlook for 2026 | Primary Drivers |
|---|---|---|
| National Average Price | Flat to Slight Decline | High construction costs (trade war) and low buyer confidence counteract sustained immigrant demand. |
| Sales Volume | Muted Recovery | Pent-up demand from established Canadians is constrained by stable, non-stimulative interest rates, leading to smaller-than-expected growth. |
| Supply (New Construction) | Decline | Trade tariffs on building materials will raise construction costs, potentially causing developers to postpone or cancel new projects, worsening the long-term supply shortage. |
| Affordability | Worsens for New Homes | Stable rates keep borrowing costs high, while tariffs add an estimated $30,000−$50,000 to the cost of a new build, increasing the price gap between new and resale homes. |
1. 🏦 Constraint from Stable Interest Rates
Market expectation of stable BoC rates until 2027 acts as a brake on sales activity.
No "Unleashing" of Demand: The market will not benefit from the "powerful boost" of further rate cuts that some forecast.
Mortgage Renewal Headwind: A large portion of all outstanding Canadian mortgages are expected to renew in 2026. Since many of these renewals will be at higher rates than their initial contracts (especially five-year fixed mortgages), homeowners will face payment increases for those renewing in 2026. This rising cost of ownership will force/encourage some sellers to list.
2. ⚔️ Damage from Trade Conflict
The trade conflict is a net negative that hits both the supply and demand sides of the market simultaneously.
Supply Crisis Deepens: Retaliatory tariffs on key imports (e.g., steel, aluminum, glass, and major appliances) from the U.S. will drive up the price of building materials. This added expense will cause developers to delay or scrap new projects, reducing housing starts and prolonging the supply crisis.
Confidence Sinks: The primary risk is the "overall economic slowdown" caused by trade uncertainty, which translates directly into lower consumer confidence and a hesitation to make a large purchase, further muting sales activity.
3. 🌍 Stabilization from Established Immigrants
The sustained underlying demand from recent immigrants who are now credit-ready will be the market's main stabilizing force.
Demand Maturation: Immigrants from the last few years are now meeting the necessary two years of Canadian residency and job stability required for favourable mortgage financing and are transitioning from the rental market to the ownership market.
Price Floor: This structural demand will be concentrated in major urban markets (Toronto, Vancouver, Montreal, Calgary), acting as a floor under prices and likely preventing the very steep annual declines that some forecast for Ontario and BC from being realized. This sustained demand will offset economic softness caused by trade anxiety.
Breakdown By Region
New Housing Price Index
The New Housing Price Index (NHPI) Overview
The New Housing Price Index (NHPI) is a monthly measure published by Statistics Canada that tracks changes in the selling prices of new residential houses over time. It serves as a vital tool for government agencies, market analysts, and real estate professionals to monitor the construction sector's health.
Key Technical Details:
- Base Period: The index is calculated relative to a base of 100 set in December 2016.
- Geographic Scope: The index covers 27 census metropolitan areas (CMAs) across Canada, providing both national and city-specific data.
- Tax Exclusions: To reflect the true market price of the structure and land, the NHPI prices exclude value-added taxes such as GST and HST.
- Property Types: It specifically measures the prices of newly built single-family homes, semi-detached houses, and townhouses.
- Exclusions: The index does not include resale homes, custom-built homes, or apartment condominiums, which are tracked by different statistical measures.
Other Real Estate Statistics
Homeownership Rate: 66.5% (2021) down from peak of 69% (2011), highest in Newfoundland and Labrador (75.7%) and lowest in Nunavut (19.2%). Ontario and Quebec respectively have homeownership rates of 68.4% and 59.9%.
The national vacancy rate for purpose-built rental apartments rose to 3.1% in late 2025, up from 2.2% in 2024. Vacancy rates for Toronto, Montreal, Vancouver and Calgary are respectively 3%, 2.9%, 3.7% and 5%.
Housing Construction
Housing Starts: The trend is 264,445 units per year; the actual number of housing starts is 21,870 (November 2025). On an annual basis, housing starts are higher by 24% in Montreal, while they are lower by 11% in Toronto and 1% in Vancouver.
Housing Under Construction: As of November 2025, there are 356k residential units under construction. This number includes 298k apartments, 29k detached homes, 22k row houses and 7k semi-detached units.
Housing Completions: During 2023, 188,689 residential units were completed. 2023 completions included 113k apartments, 44k detached homes, 24k row homes and 8k semidetached homes. CMHC have stopped reporting Canada-wide housing completion data.
Investment in Residential Construction: CAD $185.70 billion (November 2024 - October 2025) shows 8.3% annual growth
Investment in Non-Residential Construction: CAD $81.37 billion (November 2024 - October 2025) shows 3.2% annual growth.
Average Rent for a 2-Bedroom Unit
As reported by the CMHC for purpose-built rentals in October 2025
| Region | Average Rent for a 2-Bedroom Unit (Annual Change) |
|---|---|
| Greater Toronto Area, ON | $2,046 (3.4%) |
| Ottawa, ON | $1,926 (3.4%) |
| Vancouver, BC | $2,363 (2.2%) |
| Victoria, BC | $2,120 (5.1%) |
| Montreal, QC | $1,346 (7.2%) |
| Edmonton, AB | $1,603 (3.5%) |
| Calgary, AB | $1,914 (1.7%) |
| Winnipeg, MB | $1,571 (1.9%) |
| Halifax, NS | $1,826 (6.7%) |
| Canada (Cities 10,000+) | $1,550 (5.1%) |
Glossary and Definitions
MLS® Home Price Index (HPI): Developed by the Canadian Real Estate Association (CREA), the MLS® HPI is the most advanced tool for tracking price trends in the Canadian housing market. Rather than using simple average prices, which can be skewed by the mix of homes sold in a given month, the HPI tracks the value of a "Benchmark Home"—a property with typical attributes for its specific neighborhood. This allows for an accurate "apples-to-apples" comparison of home values across different regions and time periods, independent of a property's specific features or seasonal volatility. To ensure the index remains relevant, CREA performs an annual review every May to account for evolving market dynamics.
MLS® HPI Benchmark Price: This is the dollar value assigned to a "typical" home in a specific neighborhood. While the HPI itself is an index number used to track trends, the Benchmark Price translates that data into a real-world dollar figure, representing what a standard home with average features (like square footage, rooms, and lot size) would likely sell for in today's market.
Property types
Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.
Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.
Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.
Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.
Property Classes
Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.
Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.
Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owners of the buildings have leased the land and pay rent to their landlord while owning the building on the land.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.
- The trademarks MLS®, Multiple Listing Service®, and associated logos are owned by CREA and identify services provided by its members.