Canada Real Estate Market Size, Share, Trends, and Growth Outlook 2034

Canada's real estate market, valued at USD 188.6 billion in 2025, is projected to grow to USD 237.0 billion by 2034 at a 2.5% CAGR. Growth is driven by population expansion, urbanization, immigration, and housing demand in major cities. Residential demand outpaces supply, with rising interest in multi-family and rental housing. Commercial real estate adapts to e-commerce and hybrid work trends. Sustainability and technology integration are key focuses, while affordability, interest rates, and regulations pose challenges.

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Canada Home Sales Regain Momentum

In Mid-Q2 2026, Canadian home sales ↑~5% MoM, marking 2026's first meaningful national demand gain as activity picked up across the market.
Canada's national avg. sale price topped $700K in Mid-Q2 2026, ↑~2% yearly and reaching its highest monthly reading in two yr overall.
New listings ↓~1% MoM, tightening Canada's sales-to-new-listings ratio near 49%, still within the 45%-65% range usually linked to balanced conditions for buyers and sellers.
The national home price index was nearly flat MoM; yearly values sat ~4% below prior levels, signaling stabilization after earlier softness across Canada.
Experts pointed to closer buyer-seller alignment, shorter listing-to-sale periods, and financing timing as key factors for Canadians weighing next moves in current conditions.

Global Smart Homes Projected to Hit $1.4T

The global smart home market is projected to move from ~$160B in 2025 to ~$1.4T by 2034, with ~28% CAGR expected worldwide.
AI-driven personalization is the primary growth catalyst, with platforms learning household patterns and adjusting lighting, temperature, entertainment, and security settings proactively over time.
Retrofit applications lead share, while wireless protocols dominate by making connected upgrades easier to install, scale, and integrate across existing homes globally.
Energy management is projected to grow fastest, supported by electricity costs, sustainability goals, utility incentives, smart thermostats, intelligent lighting, and monitoring devices.
Security and access control is expected to hold the largest product share, led by demand for smart locks, video doorbells, cameras, and remote monitoring.

Hope Returns to Hamilton’s Housing Market in Late Spring

Hamilton's MLS Home Price Index Benchmark hit $744,000 in May 2026, down 5.4% yearly but up 0.8% monthly.
Detached homes averaged $840,166, roughly flat year-over-year at a $765,000 median.
Townhouse and condo prices averaged $566,055, down 6.6% annually.
The average sold price citywide was $777,612, with homes sitting 29 days on market.
Cornerstone Association data shows a modest recovery trend building into spring.

Easy Home Upgrades to Increase Resale Value — What’s Worth the Investment

Mortgage rates have risen above 6.5%, impacting home affordability and buyer behavior. Sellers now focus on making homes feel move-in ready with targeted upgrades rather than full renovations. Key improvements include enhancing curb appeal, installing smart thermostats, adding built-in storage, upgrading lighting, and making small kitchen and bathroom updates. Consistent hardware, updated baseboards, matching interior doors, and added moulding also boost perceived value.

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Happy Long Weekend!

The Civic Long Weekend is that magical time when emails mysteriously stop being urgent and everyone suddenly becomes an outdoor enthusiast with barbecue ambitions.
It’s the official season of “quick getaway” plans that somehow involve more traffic than the entire workweek combined, plus snacks bought in emergency bulk.
Parks, beaches, and backyards transform into competitive zones for grilling skills, loud laughter, and pretending Monday does not exist yet.
Happy Civic Long Weekend! May your plans be easy, your food be grilled just right, and your return to reality feel slightly less painful than expected.

Home Affordability: Half of Ontario Condos Are Now Under $500K

Nearly 46% of condos in Ontario are now valued under $500,000, up from 23.7% four years ago, reflecting a market correction after a 2022 price spike. New condo completions in the Greater Toronto Area are expected to sharply decline from 2027 to 2029, limiting future supply. The market is shifting toward rentals, increasing demand and property values for resale homes. Current low prices, abundant options, and new tax rebates create a unique buying opportunity.

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This Survey Reveals The Most Affordable Cities In Canada

Rising affordability concerns are prompting many Canadians to consider moving to lower-priced cities if they can find local or remote work. Nearly half of respondents from Vancouver, Toronto, and Montreal regions expressed willingness to relocate. Edmonton is the top choice for Vancouver residents. The most affordable cities include Lethbridge, Saint John, Thunder Bay, Red Deer, and Regina, with Lethbridge requiring the lowest mortgage payment relative to income.

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Canada: Home Price Forecast Rises

Canada’s housing market showed renewed activity after a slow start, prompting a national forecast upgrade as stronger demand began outpacing limited supply.
In the first half of 2026, home sales stayed below yearly levels, while prices were broadly flat across Canada despite improving buyer confidence.
The firm expects Canada’s aggregate home price to rise ~2% in 2026, with Toronto outperforming earlier expectations and Vancouver recovering more slowly.
The gap between Canada’s priciest and least expensive markets narrowed as affordability improved in Toronto and Vancouver, reducing pressure for buyers to relocate.
Most borrowers renewing ultra-low pandemic-era mortgages are widely expected to keep making payments, so Canada is not expected to see many forced sales.

Canada Rents Fell Year-Over-Year in June

Canada's avg. asking rent reached $2.03K in Late-Q2, ↓~4% yearly, extending the country's run of yearly rent declines to 21 consecutive months.
Compared with Mid-Q2, asking rents edged slightly higher MoM in Late-Q2, signaling short-term stability even as overall yearly pricing across Canada remained lower.
Purpose-built apartment asking rents averaged $2.03K in Late-Q2, ↓~3% yearly, while condominium apartment asking rents averaged $2.06K, ↓~7% yearly across Canada overall.
Condominium apartments still asked slightly more than purpose-built units, but both national averages stayed clustered just above $2K in Late-Q2 across Canada.
Late-Q2 showed a familiar pattern for Canada: rents stayed below year-ago levels, yet the small MoM uptick suggested the market was mixed.