OTTAWA – Canada’s housing market may be turning a new leaf this fall, according to REMAX Canada’s 2025 Fall Housing Market Update.
The report points to improved affordability and a boost in inventory levels that could entice cautious buyers RE/MAX Report. 54 percent of Canadians believe this fall is a good time to purchase a home, and average home prices are expected to decrease by 6.5 percent this fall.
2025 saw listings increase in British Columbia, signaling a shift to buyer’s market conditions.
“Canada’s real estate landscape paints a complex picture of resilience and caution, influenced by regional nuances and continued economic uncertainty. From seller-driven markets across much of Atlantic Canada and the Prairies, to buyer-friendly conditions in Ontario and BC, the nation’s housing market reflects a delicate balance,” says Don Kottick, President of REMAX Canada. “What hasn’t changed is that Canadians see value in home ownership, and an experienced, professional real estate agent can help buyers and sellers tailor their strategies to better set themselves up for success, regardless of market conditions.”
Prices declined in Fraser Valley (down 5.5 per cent) and Vancouver (down 6.3 per cent), while modest gains were recorded in Central Okanagan (up 1.7 per cent), Calgary (up 5.1 per cent), Edmonton (up 7.3 per cent), Regina (up seven per cent), Saskatoon (up seven per cent) and Winnipeg (up 7.7 per cent). Listings rose in most markets, led by Vancouver (up 19 per cent) and the Fraser Valley (up 10 per cent).
In 2024, first-time buyers drove sales in the majority of markets across Canada, but for 2025, REMAX brokers and agents report that families, new Canadians and retirees are driving the bulk of activity in 2025.
According to a Leger survey commissioned by REMAX Canada, seven per cent of Canadians say they intend to buy their first home within the next year. This group is trending older, with many now entering the market in their late-20s to 40s, reflecting both broader affordability challenges and the increasing complexity of entering the market.
The Leger survey also reveals that today’s first-time homebuyers are financially varied, some entering with strong savings and others relying on more creative strategies to get their foot in the door. Twenty-eight per cent of those planning to buy their first home in the next 12 months say they have saved at least 20 per cent for their down payment, while 33 per cent have saved 15 per cent or more, and 13 per cent have saved at least 10 per cent. Only one in 10 Canadians say they have been gifted money to help them buy a home, suggesting many are finding their own way, such as through disciplined saving, or co-ownership models and other non-traditional approaches.
While 12 per cent of Canadians say they plan to purchase a home in the next year, many are watching the market closely for the right moment to act. Among this group, 68 per cent say a 5-10 per-cent drop in property prices would make a meaningful difference in their ability to enter the market, while 64 per cent say they’d feel ready if interest rates fell by 0.5 to one per cent.
“These insights paint a picture of first-time buyers who are older, more financially prepared in some cases, but still navigating significant headwinds and waiting for the market to meet them halfway,” says Kottick. “The good news is inventory levels are rising in most regions, giving buyers more choice, negotiating leverage and more time to make purchasing decisions.”
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