Canada Housing Market Report April 2026
Housing Affordability in Canada: Gradual Improvement but Ongoing Pressures in April 2026
In April 2026, Canada’s housing market showed early signs of stabilization as the spring season got underway. Home sales rose 0.7 percent from March to approximately 42,927 transactions, marking the first monthly increase in several months, though they remained down 4 percent from April 2025. The national average home price reached $695,412, up 2.2 percent year over year. The MLS Home Price Index edged down just 0.1 percent month over month and was 4.2 percent lower than a year earlier. New listings increased 4.1 percent from the prior month, adding some balance to the market while persistent affordability issues continued to temper overall activity.
| CANADA: AVERAGE HOUSE PRICES. APRIL 2026 | ||
| CITY | AVERAGE HOUSE PRICE | Y/Y % Change |
| CANADA | $695,412 | 2.2% |
| Calgary | $570,600 | -2.2% |
| Edmonton | $424,700 | -1.4% |
| Halifax | $570,900 | 1.6% |
| Montreal | $594,400 | 3.6% |
| Ottawa | $629,800 | -0.9% |
| Quebec City | $458,000 | 11.5% |
| Saskatoon | $433,200 | 3.3% |
| Toronto | $944,100 | -6.5% |
| Vancouver | $1,098,000 | -6.9% |
| Winnipeg | $401,000 | 4.4% |
| Source: CREA 2026 | ||
Housing affordability in Canada continued to see gradual improvement in April 2026, though gains remained modest and uneven across the country. RBC Economics noted that national affordability measures had eased for several quarters through late 2025, reaching 52.4 percent in Q4, but the pace of recovery slowed markedly into 2026 amid stable interest rates and mixed price movements. Ownership costs still consumed just over half of typical household income on a representative home.
The national average home price rose to $695,412 in April, up 2.2 percent from April 2025, marking the first year over year gain of the year. The MLS Home Price Index declined a modest 4.2 percent year over year, with the smallest monthly drop since late 2025. Affordability pressures persisted strongly in Toronto, Vancouver, and other major urban centres in Ontario and British Columbia, where price to income ratios stayed elevated. More affordable regions such as the Prairies, parts of Quebec, and Atlantic Canada experienced relatively stronger conditions, with some markets posting price gains and better buyer access.
Rental markets showed some easing in select urban areas, yet overall supply constraints and elevated costs continued to challenge many households. Economists highlighted that further meaningful affordability gains in 2026 would depend on additional price softening in high cost cities, stronger income growth, or policy support, as the Bank of Canada held rates steady. Government initiatives to boost housing supply offered longer term promise but had limited immediate impact on the national picture. Affordability remained a significant obstacle for first time buyers and younger households, particularly in major metropolitan areas.
