Real estate firm Royal LePage is forecasting an uptick in home prices next year as it says the Canadian housing market is primed for a "reset" with more buyers making their move.
Royal LePage projects the national aggregate home price will increase one per cent annually to about 823-thousand dollars in the fourth quarter of 2026.
Single-family detached home prices are forecast to rise two per cent and condominium prices are expected to fall 2.5 per cent.
Home prices are expected to rise in most major markets, with the exception of Canada's two most expensive cities, Vancouver and Toronto.
Its projections for the upcoming year follow significant economic and political uncertainty in 2025, including a trade war with the U-S that prompted a recalibration of market expectations.
This year has also included four cuts by the Bank of Canada to its key policy rate, which many industry watchers have noted likely kept some buyers on the sidelines as they waited for borrowing costs to keep coming down.