Story perspectives

Canadian Home Prices Drop 2% Amid Economic Uncertainty

4/17/2026

Summary

Story summary

National home prices fell 2% to an average of $812,900, with smaller cities rising and Toronto/Vancouver declining.
Phil Soper, CEO of Royal LePage, cites tight inventory in smaller regions and oversupply in condos.
First-time buyers remain hesitant amid economic uncertainty, shifting toward selling before purchase.
Canadian Real Estate Association downgraded its forecast due to rising mortgage rates and inflation.
Modest price increases are expected later this year.

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Story summary

National home prices fell 2% to an average of $812,900, with smaller cities rising and Toronto/Vancouver declining.
Phil Soper, CEO of Royal LePage, cites tight inventory in smaller regions and oversupply in condos.
First-time buyers remain hesitant amid economic uncertainty, shifting toward selling before purchase.
Canadian Real Estate Association downgraded its forecast due to rising mortgage rates and inflation.
Modest price increases are expected later this year.