The average resale house price in Canada was forecast to reach nearly 836,000 Canadian dollars in 2026, according to a January forecast. In 2024, house prices increased after falling for the first time since 2019. One of the reasons for the price correction was the notable drop in transaction activity. Housing transactions picked up in 2024 and are expected to continue to grow until 2026. British Columbia, which is the most expensive province for housing, is projected to see the average house price reach 1.2 million Canadian dollars in 2026. Affordability in Vancouver Vancouver is the most populous city in British Columbia and is also infamously expensive for housing. In 2023, the city topped the ranking for least affordable housing market in Canada, with the average homeownership cost outweighing the average household income. There are a multitude of reasons for this, but most residents believe that foreigners investing in the market cause the high housing prices. Victoria housing market The capital of British Columbia is Victoria, where housing prices are also very high. The price of a single family home in Victoria's most expensive suburb, Oak Bay was 1.9 million Canadian dollars in 2024.

The average sales price decreased for all property types in Greater Vancouver, Canada in 2023. Buying a condo as of January 2023 would cost a home buyer about 760,000 Canadian dollars. Greater Vancouver is one of Canada's most important economic centers. It consists of 21 municipalities, including Vancouver City, Surrey, Burnaby, Richmond, Coquitlam, and other.

New housing price index (NHPI). Monthly data are available from January 1981. The table presents data for the most recent reference period and the last four periods. The base period for the index is (201612=100).

The average house price in British Columbia in 2024 stood at about 982,100 Canadian dollars and, according to the forecast, is set to increase by two percent, reaching 1,001,871 Canadian dollars in the following year. The average house price in Canada is forecast to grow in the next two years.

Graph and download economic data for Real Residential Property Prices for Canada (QCAR628BIS) from Q1 1970 to Q3 2024 about Canada, residential, HPI, housing, real, price index, indexes, and price.

In November 2024, a single-family house in Oak Bay cost 1.9 million Canadian dollars. Oak Bay was the most expensive suburb in Victoria, British Columbia, followed by Highlands and North Saanich. Victoria: an overview Victoria is the capital city of the province of British Columbia. The city is located south of Vancouver, and across the U.S. border from Seattle. In 2020, the average home price in Victoria was 961,000 Canadian dollars, which placed the city as the sixth most expensive Canadian city for residential real estate. Home affordability in Canada Housing affordability is, undoubtedly, one of the biggest barriers to homeownership in Canada. In 2023, the ratio of homeownership costs to income was 62.5 percent. Nevertheless, more expensive locations in the country had a higher ratio, with Vancouver exceeding 100 percent, suggesting that on average, mortgage payments exceeded the monthly income. Amid lower affordability and worsening homebuyer sentiment, house prices in some of Canada's markets are forecast to decline slightly in 2024.

Housing Index in Canada increased to 124.50 points in February from 124.40 points in January of 2025. This dataset provides - Canada New Housing Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Canada House Price Index: New Housing: British Columbia: Kelowna data was reported at 122.500 Dec2016=100 in Jan 2025. This stayed constant from the previous number of 122.500 Dec2016=100 for Dec 2024. Canada House Price Index: New Housing: British Columbia: Kelowna data is updated monthly, averaging 107.200 Dec2016=100 from Dec 2016 (Median) to Jan 2025, with 98 observations. The data reached an all-time high of 124.600 Dec2016=100 in Sep 2022 and a record low of 100.000 Dec2016=100 in Jan 2017. Canada House Price Index: New Housing: British Columbia: Kelowna data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.EB003: House Price Index: Dec2016=100.

House Price Index MoM in Canada increased to 0.10 percent in February from -0.10 percent in January of 2025. This dataset includes a chart with historical data for Canada House Price Index MoM.

Residential real estate prices fell across most markets in Canada in 2023; however, two markets, North Bay and Sault Ste. Marie, ON, experienced double-digit growth. Metro Vancouver, one of Canada's most expensive markets for housing, recorded house price growth of four percent. According to the forecast, prices are expected to increase in most markets under observation. In Vancouver, the increase is forecast at two percent.

Graph and download economic data for Housing Inventory: Median Listing Price in Portland-Vancouver-Hillsboro, OR-WA (CBSA) (MEDLISPRI38900) from Jul 2016 to Feb 2025 about Portland, OR, WA, listing, median, price, and USA.

The report covers Residential Real Estate Market in Canada and is segmented by Type (Apartments and Condominiums and Villas and Landed Houses) and City (Toronto, Montreal, Vancouver, Ottawa, Calgary, Hamilton, and Other Cities). The report offers market sizes and forecasts in value (USD billion) for all the above segments.

The average Canadian house price declined slightly in 2023, after four years of consecutive growth. The average house price stood at 678,282 Canadian dollars in 2023 and was forecast to reach 746,379 Canadian dollars by 2026. Home sales on the rise The number of housing units sold is also set to increase over the two-year period. From 443,511 units sold, the annual number of home sales in the country is expected to rise to 453,704 in 2025. British Columbia and Ontario have traditionally been housing markets with prices above the Canadian average, and both are set to witness an increase in sales in 2025. How did Canadians feel about the future development of house prices? When it comes to consumer confidence in the performance of the real estate market in the next six months, Canadian consumers in 2024 mostly expected that the market would go up. A slightly lower share of the respondents believed real estate prices would remain the same.

Graph and download economic data for Regional Price Parities: Services: Housing for Portland-Vancouver-Hillsboro, OR-WA (MSA) (RPPSERVERENT38900) from 2008 to 2023 about Portland, OR, PPP, rent, WA, services, price, and USA.

House prices in British Columbia and Ontario were notably higher than any other province in Canada in 2024. The average house price in any other province was less than 530,000 Canadian dollars, whereas in British Columbia and Ontario, it exceeded 800,000 Canadian dollars. The most affordable province to buy a home was Newfoundland, where the average home cost about 319,634 Canadian dollars.

The Canadian residential real estate market, valued at approximately $XX million in 2025, is projected to experience steady growth with a Compound Annual Growth Rate (CAGR) of 3.20% from 2025 to 2033. This growth is driven by several factors, including a growing population, particularly in major urban centers like Toronto, Vancouver, and Montreal, increasing urbanization, and a persistent demand for housing across various segments, from apartments and condominiums to villas and landed houses. Strong immigration numbers and a relatively robust economy contribute to sustained demand, although affordability concerns, particularly in high-density areas, represent a significant challenge. Government policies aimed at addressing housing affordability and supply shortages will play a crucial role in shaping the market's trajectory in the coming years. Competition among major developers like Aquilini Development, Bosa Properties, and Brookfield Asset Management, along with numerous smaller players, will continue to influence pricing and innovation within the sector. The market segmentation reveals significant regional disparities. Toronto, Vancouver, and Montreal consistently dominate the market share due to their economic dynamism and population density. However, cities like Calgary and Ottawa also contribute substantially, reflecting regional economic variations and the distribution of population growth across the country. While the apartment and condominium segment holds a considerable share, the demand for villas and landed houses remains significant, particularly in suburban and rural areas. The forecast period anticipates continued growth, but at a moderated pace compared to previous periods of rapid expansion, reflecting a more balanced market characterized by increasing affordability concerns and adjustments in government regulations. The consistent presence of established players and emerging developers indicates a dynamic and competitive landscape. Recent developments include: October 2022: Dye & Durham Limited ("Dye & Durham") and Lone Wolf Technologies ("Lone Wolf") have announced a brand-new integration that was created specifically for CREA WEBForms powered by Transactions (TransactionDesk Edition) to enable access to and communication with legal services., September 2022: ApartmentLove Inc., based in Calgary, has recently acquired OwnerDirect.com and finalized a rental listing license agreement with a significant U.S. aggregator as part of its ongoing acquisition and partnership plans. In 30 countries, ApartmentLove (APLV-CN) offers online house, apartment, and vacation rental marketing services.. Key drivers for this market are: Population Growth is the main driving factor, Government Initiatives and Regulatory Aspects for the Residential Real Estate Sector. Potential restraints include: Housing Supply Shortage, Interest rates and Financing. Notable trends are: Immigration Policies are Driving the Market.

By Buyer Type:In 2023, first-time buyers dominate Canada's residential real estate market due to government incentives like tax credits and lower mortgage rates aimed at making homeownership more accessible. Additionally, millennials reaching prime home-buying age and seeking stability and investment opportunities contribute significantly to the surge in demand among this buyer segment. By Property Type:In 2023, condominiums dominate Canada's residential real estate market due to their affordability, especially in urban centers, and the increasing preference for low-maintenance living. With urbanization, more young professionals and downsizing retirees are opting for condos, which offer amenities, security, and proximity to workplaces and services, making them a highly attractive housing option. The Canada Residential Real Estate market can be segmented based on various factors. Here are three key segmentation types with their sub-segments and estimated market share ranges: Canada Residential Real Estate Market Segmentation The urban housing segment is dominant, driven by the high demand for residential properties in major cities. Toronto and Vancouver account for over 60% of total market transactions, fueled by their economic opportunities and amenities.

By Property Type:In 2023, condominiums dominate Canada's residential real estate market due to their affordability, especially in urban centers, and the increasing preference for low-maintenance living. With urbanization, more young professionals and downsizing retirees are opting for condos, which offer amenities, security, and proximity to workplaces and services, making them a highly attractive housing option. The Canada Residential Real Estate market can be segmented based on various factors. Here are three key segmentation types with their sub-segments and estimated market share ranges: Canada Residential Real Estate Market Segmentation The urban housing segment is dominant, driven by the high demand for residential properties in major cities. Toronto and Vancouver account for over 60% of total market transactions, fueled by their economic opportunities and amenities.

The Canada Condominiums and Apartments Market is segmented by city (Toronto, Montreal, Vancouver, Ottawa, Calgary, Hamilton, and other cities). The report offers market size and forecasts in value (USD billion) for all the above segments.

The Report Covers Canada Commercial Real Estate Industry Outlook for the Next 5 Years and is Segmented by Type (office, Retail, Industrial, Multi-Family, and Hospitality) and by City (Toronto, Vancouver, Calgary, Ottawa, Montreal, Edmonton, and the Rest of Canada). The Report Offers Market Size and Forecasts for the Commercial Real Estate Market in Canada in Terms of Value (USD) for all the Above Segments.