Experts said Canada had taken small steps forward, with affordability improving in key markets, yet overall progress still fell short of solving supply challenges.
Canada has been building ~250K homes yearly, but restoring affordability and closing the backlog required ~400K to 470K new homes each year.
Over the past decade, population growth outpaced housing production, leaving a deficit that could not be erased quickly even if construction activity accelerated.
Public frustration stayed high: ~80% of Canadians said housing was not functioning properly, and ~75% felt too few homes were being built.
Looking ahead, pent-up demand could emerge when confidence improves, and housing was expected to remain a major political issue across Canada for voters.

Falling mortgage rates are improving affordability and encouraging more Canadians to resume postponed home-buying plans.
Household formation remains resilient despite slower national population growth this year.
More first-time buyers are expected to support activity across the broader resale market.
Market confidence is forecast to improve gradually through late 2026.

By Q2 2026, avg. days on market had increased yearly across home types in Southern Ontario, marking a slower pace than the 2022 peak.
Condos took longest to sell in Q2 2026, averaging 36 days versus ~32 in Q2 2025, while elevated inventory gave buyers more negotiating room.
Single-family homes moved faster than condos: semi-detached averaged 20 days, detached 25, and townhouses ~24, with townhouses showing the smallest yearly increase.
An economist said townhouses appeared more resilient because they appealed to downsizers and first-time buyers seeking an option between detached homes and condos.
The contrast was sharp: at the Early-Q1 2022 peak, detached homes sold in nine days, while semi-detached homes and townhouses took ~1 week.

Single-family avg. price ↓~2% yearly to $1.86M, while condo, co-op, and linked homes ↓~6% to $865K in Oakville, showing softer current pricing overall.
Single-family sales ↑~19% to 929, but condo, co-op, and linked-property sales ↓~11% to 636; listings also tightened recently across both segments in Oakville.
Oakville stayed balanced with a slight buyer tilt: ~5 mo of inventory gave negotiating room, though saving a down payment remained the top hurdle.
An industry leader said a tax rebate improved affordability, drew buyers and investors, boosted new construction interest, and pressured comparable resale pricing most in condos.
For the rest of 2026, avg. sale prices are expected to stay flat or ↑~1% versus 2025, while sales are expected to ↑~3% in Oakville.

Before closing, Ontario buyers need cash for deposit, land transfer tax, legal fees, and adjustments, not just mortgage payments and the down payment.
Ontario’s minimum down payment rises as a home’s price climbs, and smaller down payments can trigger mortgage insurance added into monthly payments.
Ontario buyers need land transfer tax paid in full at closing, and the deposit is only an upfront portion of the total down payment.
Ontario requires a Real Estate lawyer, often budgeted near ~$2K, and buyers should also expect closing adjustments for prepaid taxes, condo fees, or fuel.
Eligible first-time buyers may access provincial rebates, including a full HST rebate on new homes through Late-Q1 2027, and pre-approval can prevent financing surprises.

For Canada, a home price index helps gauge home prices and trends in local neighborhoods, giving REALTORS® a clearer read on shifting market conditions.
Unlike avg. or median prices, the index tracks how buyers value housing features, aiming for steadier comparisons that better reflect underlying price trends.
The approach supports apples-to-apples price comparisons, helping REALTORS® explain values more accurately and giving clients clearer market context for informed home decisions.
Each month, the index uses >20 yr of listing system data and statistical models to define a typical home from sold property features.
Those benchmark homes are then tracked across neighborhoods and house types, giving REALTORS® another tool to spot trends and guide client conversations.

Oakville — Most Affordable homes for September 2026.

Listings (sorted by price):
1. Listing 40852876 — $349,900
2. Listing W13421514 — $389,900
3. Listing 40865374 — $399,000
4. Listing W13720752 — $399,000
5. Listing W13737818 — $399,000
6. Listing W13811940 — $399,000
7. Listing 40863934 — $399,900
8. Listing 40867240 — $399,900
9. Listing W13793996 — $399,900
10. Listing W13799562 — $399,900
11. Listing W13832580 — $399,900
12. Listing W13838262 — $399,900
13. Listing 40859992 — $399,999
14. Listing W13700864 — $399,999
15. Listing W13738992 — $399,999