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Canadian residential real estate market trends

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2026-10-06 20:24 UTC → 2026-10-21 08:17 UTC · added ~~removed~~

The Canadian residential real estate market has experienced a slowdown in sales volume. In the Greater Toronto Area, September home sales fell 9% year-over-year to 5,040 units, with the average selling price dropping to $1,006,409. Analysts attribute this decline to economic uncertainty, inflation, rising bond yields, and higher fixed mortgage rates, alongside buyer reactions to geopolitical tensions and gas prices. In Red Deer, Alberta, total residential sales through September decreased by 7% compared to the previous year. While detached home sales remained relatively stable with a 1% decline, apartment sales saw a significant 28% drop. Despite the lower sales volume, the overall residential average price in Red Deer rose 9.2% year-over-year to $435,425, and inventory increased by 12.7%. Recent data indicates a significant split in regional performance. In Toronto, housing starts fell 61% in September compared to the previous year, with only 1,440 homes started; Montreal also reported a 51% decline. In contrast, Calgary and Vancouver reported gains, with Calgary leading the five largest markets in absolute starts. A regional divide has also emerged in British Columbia. While southern markets like Greater Vancouver and Chilliwack experienced sales declines, Northern B.C. remained relatively steady, with sales only declining 2.7% and average home prices rising 7.6% year-over-year. Nationally, the seasonally adjusted annual rate of housing starts rose approximately 3% to 248,896 units. The Canada Mortgage and Housing Corp. noted that six-month trends suggest monthly volatility rather than a sustained collapse in certain sectors.

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