National home prices fall in Q2, but rebound could be near: Royal LePage
“Several regions are now seeing that uptick in momentum carry into summer, as buyers who held back earlier in the year re-enter the market. In many cases, what has kept consumers on the sidelines is not a lack of interest, but a lack of urgency.”
Greater Toronto and Greater Vancouver bore the steepest annual declines in Q2, falling 4.6% and 4.5% year over year to $1,101,700 and $1,164,100 respectively. However, both markets showed signs of stabilisation on a quarterly basis, with Toronto prices edging up 0.9% from Q1 2026.
The Greater Montreal Area moved in the opposite direction, posting a 4.9% annual gain to $650,500.
Quebec City led smaller markets with a 6.1% year-over-year increase, but recorded its first quarter-over-quarter price decline in more than three years — a sign that even the country’s hottest regional markets are not immune to the broader drag on consumer confidence.
Soper noted that the narrowing price gap between Canada’s most expensive and most affordable cities is beginning to shift the calculus for first-time buyers and newcomers.
