Neshat Piroozan

2026 home sales expected to rise ~5–7.7% to ~494,500–509,500 transactions. 

In 2027, sales projected up another ~3.5% to ~512,000 homes nationally.

Average price is expected to nudge ~2.3% higher to ~$715,000 by end of 2027.

Economists cite uncertainty, rising supply, and affordability shaping gradual, not explosive, growth.

How Will Canada’s Housing Market Move Next 2 Years?

30-year fixed rates have retreated from recent highs, sparking renewed buyer and refinance interest.
Lower rates alone have not solved affordability; many buyers overestimate impact on payments.
Falling rates can ↑ demand and home prices, often offsetting monthly payment savings.
Shopping lenders can save buyers an avg. of 11 basis points—often more than waiting for rates to drop.
Affordability improved mainly due to income growth, not lower rates; refinancing benefits remain limited.