Some surprising niches have emerged across the country where those looking for their new dream home have a real chance of closing a deal.
Seven of Canada’s 23 largest cities and regions have seen the perfect mix of falling prices and sales, meaning there’s plenty of cheaper supply available right now, according to a report from real estate platform Zoocasa Inc.
Most notably, property prices in Ontario’s Niagara Region fell 8.1 per cent while sales fell 6.4 per cent, making it the country’s most advantageous market for buyers.
Other opportunities exist in Greater Vancouver, where prices fell 3 percent and sales fell 2.9 percent, and Hamilton-Burlington, where prices and sales fell 6.2 percent and 0.7 percent, respectively.
Other buyer market regions include Sudbury, Ontario, Gatineau, Que., Regina and the Fraser Valley in British Columbia.
“For buyers who have been waiting for more choice and more bargaining power, these markets are worth keeping a close eye on,” Zoocasa said in the report.
Overall, Canadian real estate prices rose 2.2 per cent year-over-year in April to an average of $695,412, according to the Canadian Real Estate Association (CREA).
Home sales rose 0.7 percent in April from the previous month, with activity expected to be even stronger in May.
“Despite the recovery in April, the housing market continues to face several headwinds, such as weak population growth, increased supply in key regions and unstable labor markets,” Rishi Sondhi, an economist at Toronto-Dominion Bank, said in a note last week. “These factors suggest that 2026 could be another slow year for Canadian housing.”
However, there are currently areas where it is particularly hot, especially in Quebec.
Saguenay, Quebec City, Sherbrooke and Montreal are among the regions where both home prices and sales are on the rise, along with Thunder Bay, Ontario and Newfoundland and Labrador.
“Middle-priced cities are seeing double-digit price increases, several higher-priced regions are experiencing significant corrections, and a handful of markets are quietly warming up in both prices and sales,” the Zoocasa report said.
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Canada’s inflation rate rose to 2.8 percent in April, largely due to high energy prices related to the war in Iran.
This month’s consumer price index represents the highest reading since May 2024, but was still below the Bank of Canada’s expectations.
Food prices rose 3.8 percent for the month, while transportation fuel costs rose 7.6 percent.
The central bank predicts that inflation will return to its target of two percent by the beginning of 2027.
Read more here.
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Today’s Posthaste was written by Ben Cousins with additional reporting from staff at the Financial Post and Bloomberg.
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