By Joe Purewal Mortgages

As we approach the spring of 2026, Canadian homebuyers who have been waiting on the sidelines may finally find the conditions right to make a move. According to Royal LePage, affordability is improving, interest rates are stable, and inventory levels are “Goldilocks healthy”—all signals that the market is ready for more activity.

Why Spring 2026 Could Be Different
Spring has always been a busy season for Canadian real estate. Pent-up demand from the winter months, combined with the practicality of moving during summer, typically drives activity. While Royal LePage notes that 2026 may not bring the full surge seen in previous years, the environment is favorable for buyers who are prepared to act.

Phil Soper, CEO of Royal LePage, points out that lower borrowing costs, stable or slightly lower home prices, and healthy inventory levels create a unique window of opportunity—especially for first-time buyers in Canada’s most expensive markets.

Interest Rate Stability Matters
The Bank of Canada cut rates four times in 2025, bringing the current rate to 2.25%, which economists predict may remain steady for most, if not all, of 2026. For homebuyers and those approaching mortgage renewal, this stability is crucial. It allows households to make decisions based on need and affordability rather than trying to “time” the market.

Regional Insights: Opportunities Across Canada

  • Toronto and Vancouver continue to experience modest price declines (5.7% and 4.1% year-over-year, respectively), creating potential entry points for buyers who were previously priced out.
  • Montreal and Quebec City show strength, with steady or rising prices, reflecting continued demand in these regions.
  • Condominium markets remain soft, with median prices down 2.9% due to elevated inventory, investor pullback, and caution from first-time buyers. While lower borrowing costs typically drive condo sales, reduced immigration has tempered demand, particularly in urban centres.

What This Means for Buyers
From our perspective at Joe Purewal Mortgages, the spring market in 2026 offers opportunities for smart buyers. Lower interest rates, moderate prices, and a healthy selection of homes mean that Canadians who are ready to act can benefit from:

  • More predictable mortgage costs
  • Better choice and negotiating power in competitive markets
  • Opportunities to enter or upgrade in major cities at favorable price points

Our Advice
If you’ve been waiting for the right moment to buy a home or refinance, the time to explore your options is now. By understanding your credit, evaluating mortgage products, and working with a trusted mortgage professional, you can position yourself to take advantage of spring 2026’s favorable conditions.

Contact Joe Purewal Mortgages today to discuss your homebuying plans and explore strategies for entering the market this spring.

Source: Royal LePage, Q4 2025 Market Forecast