
Canada's housing market is in measured recovery: resales up 7.9% in 2026 but still below pre-pandemic averages, condo prices down 6.6%, and the Bank of Canada holding at 2.75% with no further cuts expected. Vancouver affordability improved dramatically from its 2023 peak but remains at a price-to-income ratio of 14.2. The foreign buyer ban expires January 1, 2027, with the Carney government signalling a new framework rather than a straight extension. Falling starts today are building the supply gap that will tighten the rental market from 2028.
Canada's housing market entered 2026 in a state of measured, regionally uneven recovery. The Bank of Canada delivered its cuts and is now holding at 2.75%. Affordability has improved for ten consecutive quarters — a record streak — yet Vancouver and Toronto remain structurally unaffordable, with price-to-income ratios that make Singapore look attainable. National home resales are projected to reach 504,100 units this year, a 7.9% rebound, but still short of the pre-pandemic five-year average of 511,000. The story is not one of recovery returning to boom, but of a market finding its floor under very specific conditions: a foreign buyer ban that expires in 2027, a government that has not decided what replaces it, and a supply shock in the two cities where global investors have historically concentrated.
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Abhii Dabas is the Founder and CEO of INTRIC Global, the cross-border property intelligence platform for serious investors. He advises high-net-worth buyers on international real estate strategy and has evaluated residential markets across more than 40 countries.
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Canada's housing market is in measured recovery: resales up 7.9% in 2026 but still below pre-pandemic averages, condo prices down 6.6%, and the Bank of Canada holding at 2.75% with no further cuts expected. Vancouver affordability improved dramatically from its 2023 peak but remains at a price-to-income ratio of 14.2. The foreign buyer ban expires January 1, 2027, with the Carney government signalling a new framework rather than a straight extension. Falling starts today are building the supply gap that will tighten the rental market from 2028.
Canada's housing market entered 2026 in a state of measured, regionally uneven recovery. The Bank of Canada delivered its cuts and is now holding at 2.75%. Affordability has improved for ten consecutive quarters — a record streak — yet Vancouver and Toronto remain structurally unaffordable, with price-to-income ratios that make Singapore look attainable. National home resales are projected to reach 504,100 units this year, a 7.9% rebound, but still short of the pre-pandemic five-year average of 511,000. The story is not one of recovery returning to boom, but of a market finding its floor under very specific conditions: a foreign buyer ban that expires in 2027, a government that has not decided what replaces it, and a supply shock in the two cities where global investors have historically concentrated.
Sources

Abhii Dabas is the Founder and CEO of INTRIC Global, the cross-border property intelligence platform for serious investors. He advises high-net-worth buyers on international real estate strategy and has evaluated residential markets across more than 40 countries.
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