Better late than never: Canada’s delayed spring housing market could set the stage for a more active second half of the year

Canada's spring housing market gained momentum after a slow start, with home prices decreasing 1.4% year over year to $814,900 in Q2 2026 but remaining flat quarter over quarter. Prices fell in major cities like Vancouver and Toronto but rose in smaller markets, narrowing the price gap. Mortgage renewals from the pandemic era are concluding, with most borrowers managing higher payments. Rental prices declined due to increased supply. Home prices are forecasted to rise 2% by Q4 2026.