Canada’s sluggish home resale market is likely to stay that way for the rest of the year.
That is according to RBC’s latest market outlook.
One of Canada’s largest banks projects home resales will decline 3.5 per cent in Canada to 467,000 units this year, largely concentrated in B.C. and Ontario.
Home resales in B.C. are predicted to decrease by 4.6 per cent by the end of the year.
Forecasters had initially predicted a more active market and slightly higher prices, largely due to interest rate cuts. But the trade war with the U.S. appears to have disrupted what looked like a recovery of the demand for resales.
That trend is expected to look up.
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The report projects a 7.9 per cent rebound nationwide in 2026, with home resales reaching 504,100 units. That is still below the pre-pandemic five-year average of 511,000 units.
But there is good news for B.C. The province is expected to rebound above the national average with a 10.8 per cent increase in home resales in 2026.With this shift, it will become a buyers’ market.
Home prices across the province are expected to continue to experience a slight decrease in 2025, with an average price of $1,162,400. This is expected to remain relatively unchanged in 2026.