Housing conditions have improved across 12 of 13 major Canadian housing markets, with slightly lower mortgage payments helping some buyers re-enter the market.
Declining home prices are allowing more first-time buyers to consider purchasing, though many must compromise on location, size, or property type.
Many homeowners face challenges at mortgage renewal as higher interest rates and declining property values restrict refinancing or switching lenders.
Despite market turbulence, pent-up demand and limited construction activity could support resale markets and encourage stronger housing activity later in 2026.