Looking ahead to 2027, the Canadian housing landscape is set for some interesting changes. According to CMHC, we can expect gradual improvements in housing conditions as incomes and the economy strengthen. While sales are predicted to bounce back, they’ll likely remain below the busier years we’ve seen over the past decade. CREA’s outlook also points to only modest price growth nationally, hinting at a more stable market rather than another big surge. With higher inventory and softer demand in certain areas, buyers may find themselves with more room to negotiate. With over 16 years guiding clients through various market cycles, I always stay focused on delivering tailored advice—so you can make confident moves, no matter where the market heads next.
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Happy Labour Day!
Labour Day in Canada marks a well-earned break celebrating workers and the unofficial end of summer, when everyone suddenly remembers all the things they meant to do in August.
It’s the last big excuse for barbecues, lake trips, and squeezing in one more summer adventure before routines and school schedules take over again.
Stores and sidewalks feel a little calmer, while patios and parks get their final big rush of summer energy and “just one more weekend” vibes.
Happy Labour Day! Wishing you a relaxed, fun-filled long weekend with good food, no alarms, and maximum enjoyment before fall shows up uninvited. -
Some GTA homes sold in under two weeks last month
Homes in Alderwood, Etobicoke, sold fastest in the GTA in July, averaging 10 days on the market, while Chaplin Estates in Old Toronto had the slowest sales at 77 days. Established, family-friendly neighborhoods with good transit and schools saw quicker sales, especially single-family homes. Other fast-selling areas included Palmer, Uptown Ajax, and Dovercourt Park. Buyer interest in the GTA declined slightly, with many first-time buyers.
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How to Know if a Home Fits Your Lifestyle?
Research local schools even if you don’t have kids — they influence home values.
Consider internet availability and speed, especially for remote work or streaming needs. -
Canada’s Affordability Streak Hits 10 Quarters
Mortgage rate relief was no longer expected to support affordability, shifting attention to home prices and income growth as the main drivers ahead.
Over the next year, economists expected mortgage rates to stay steady or edge higher, making future affordability progress more reliant on price moderation.
Slower population growth was expected to limit housing demand and help contain prices, while an improving labour market was seen supporting household income.
Client conversations across Canada remain highly market-specific, with Vancouver and Toronto differing fundamentally from Calgary and Edmonton for buyers and sellers today.
An improving labour market was expected to support household incomes, though economists warned affordability gains would narrow without sustained moderation in home prices. -
Canada First-Time Buyer Rules Differ
In Canada, previous ownership does not automatically decide first-time buyer status. Eligibility can hinge on ownership, occupancy, title interest, or a recent separation.
Many federal programs look at whether you lived in a home you owned during the current year and previous four calendar years.
Insured mortgage rules ask a different question: buyers may qualify if they never purchased, have not occupied an owned home recently, or separated.
Provincial rules can be stricter. In Ontario, a lifetime ownership test generally blocks the land transfer tax refund, even when federal definitions reopen eligibility.
Before assuming you qualify or miss out, ask which first-time buyer definition applies. The right answer can affect valuable Canadian homebuying benefits.
