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Buyer's markets have doubled across Canada this fall

A year ago, about 15% of the local markets REMAX tracks across Canada were considered buyer’s markets. This fall, that number is 32%, according to the REMAX Fall 2026 Canadian Housing Market Outlook released last week.

Sales are down from last year in 81% of the markets analyzed, and REMAX now expects national sales to finish 2026 about 2% below last year.

The softest conditions are mostly where homes cost the most. REMAX expects the average price in the Greater Toronto Area to end the year around $975,000, down 5.5%. Greater Vancouver is projected to finish around $1.4 million, down 2.1%. Calgary is expected to slip about 5%, with condos doing most of the softening, and Niagara and Kitchener-Waterloo are also firmly in buyer’s territory.

Smaller markets are telling a different story. St. John’s is tracking a 10% gain and Saskatoon about 6%. Every Atlantic market in the report saw prices rise through July, even as sales slowed.

On the ground, the shift is showing up in the offers themselves. Mortgage professionals at an industry event in Toronto last week said financing and inspection conditions are back, along with water testing and price reductions. For a few years, those were the first things buyers gave up to win a bidding war.

Rates are still the wild card. The Bank of Canada makes its next decision on October 28th. Most forecasters expect a hold at 2.25%, but markets are pricing in roughly a one-in-four chance of an increase. The inflation report on October 19th will be the next big clue.

A few things worth knowing:

👉 If you’re buying, conditions are back on the table. In softer markets, it’s reasonable to ask for financing and inspection conditions and a closing date that works for you, and still negotiate on price.

👉 If you’re selling, find out which kind of market you’re actually in. A seller in Saskatoon or St. John’s is facing very different buyers than a seller in the GTA or Niagara. In a buyer’s market, expect conditional offers and make sure your home is ready to pass an inspection.

👉 If you’re staying put, keep an eye on October 28th, especially if a renewal is coming up in the next year. Looking at options early gives you more room than waiting for the renewal letter to arrive.

Curious what this means for your situation? We were too! Here is a local look at the first 3/4 of 2026.

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Talk soon,
CHRIS, PATRIC, JULIE, JASMINE, KRISTI & BRELL

P.S. Want to know whether your neighbourhood is a buyer’s or seller’s market right now? YES it is that LOCAL.

Reach out and we’ll put together a local snapshot for you.

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