Home seekers across Canada have been waiting for the right time to step into the market. The upcoming fall season could entice them to take that plunge with improved affordability and higher inventory levels, according to REMAX Canada’s 2025 Fall Housing Market Update.

Fifty-four per cent of Canadians believe this fall is a good time to buy, as REMAX Canada expects the average national price to decrease by 6.5 per cent. National home sales are also expected to decline by five per cent through the remainder of 2025.

“Canada’s real estate landscape paints a complex picture of resilience and caution, influenced by regional nuances and continued economic uncertainty,” says Don Kottick, President of REMAX Canada. “From seller-driven markets across much of Atlantic Canada and the Prairies, to buyer-friendly conditions in Ontario and BC, the nation’s housing market reflects a delicate balance.”

The firm’s brokers and agents have recorded a year-over-year decline in home sales in 62 per cent of markets analyzed between January 1 and July 31, 2025. Meanwhile, residential price trends varied regionally, rising across Atlantic Canada and the Prairies, while declining in major urban centres in Ontario and British Columbia.

Compared to a lack of inventory in 2024, there are many more listings in Ontario and British Columbia, signaling a shift to a buyer’s market. The Prairies and Atlantic Canada, on the other hand, seem to be favouring sellers. With tighter inventory.

Shifting influence

Families, new Canadians and retirees are driving the bulk of sales activity in 2025. A Leger survey found seven per cent of Canadians intend to buy their first home within the next year. This group is trending older, with many now entering the market in their late-20s to 40s, reflecting both broader affordability challenges and the increasing complexity of entering the market.

The Leger survey also reveals that today’s first-time homebuyers are entering with strong savings or relying on more creative strategies. Twenty-eight per cent of those planning to buy their first home in the next 12 months say they have saved at least 20 per cent for their down payment, while 33 per cent have saved 15 per cent or more.

While 12 per cent of Canadians plan to purchase a home in the next year, many are watching the market closely. Among this group, 68 per cent say a five- to 10-per-cent drop in property prices would make a meaningful difference, while 64 per cent say they’d feel ready if interest rates fell by 0.5 to one per cent.

“These insights paint a picture of first-time buyers who are older, more financially prepared in some cases, but still navigating significant headwinds and waiting for the market to meet them halfway,” says Kottick. “The good news is inventory levels are rising in most regions, giving buyers more choice, negotiating leverage and more time to make purchasing decisions.”

Sellers’ realism and confidence

With home prices expected to dip even further by the end of 2025 and pent-up demand reverberating in many markets across the country, conditions look healthy for well-prepared sellers.

Brokers and agents are urging them to align their expectations with what buyers are willing to pay in today’s more balanced market. This means realistic pricing, smart staging, and a solid understanding of local market conditions.

Eight per cent of Canadians plan to sell their home in the next year, and among them, confidence is strong. According to the Leger survey, 63 per cent believe they’ll be able to secure their asking price.

“Our Fall Housing Market Update illustrates a dynamic market shift, with brokers reporting a 25-per-cent surge in conditional sales across 33 of 37 regions surveyed, and growing buyer confidence fueled by improved affordability,” says Kottick. “This is a pivotal period, where informed, well-timed decisions will make all the difference for Canadians navigating a shifting market.”

Consumer sentiments

Canadians are reporting a growing sense of stability, with 46 per cent of survey respondents anticipating that the economy will hold steady over the next six months and 38 per cent viewing the current economy as strong. Despite certain challenges, 92 per cent of Canadian homeowners view their homes as a solid long-term investment, reflecting unwavering confidence in real estate as part of their investment strategy.

According to Leger survey insights, 46 per cent of Canadians are hopeful that the federal and provincial governments’ renewed commitment to building more housing will enhance affordability within the next three to five years.

Regional market insights

According to year-over-year analysis of their local market between January 1 and July 31, 2025, brokers shared their estimated outlook for fall 2025. According to their insights, 26.4 per cent of housing markets are expected to favour sellers this fall, and 38.2 per cent sitting firmly in buyer’s territory.

Most Ontario housing markets experienced an increase in listings, ranging from four per cent to upwards of 20 per cent. Exceptions include Sudbury, Niagara Region, Grand Bend and Simcoe County, which experienced a decline. In terms of average price, Ontario is equally split between regions on the rise and those in decline, moving through the fall.

As Ontarians navigate the market, there is evidence of an increase in sales that are conditional on the sale of an existing home, with brokers reporting the growing presence of guarantors and financial assistance from family, for buyers entering the market.

​Regions where prices are expected to decline this fall include North Bay, Brampton (each by two per cent), Toronto and Windsor (each by four per cent), Grand Bend, Kitchener-Waterloo and Durham (each by five per cent), and Kingston by one per cent. Markets that could experience a price increase include Sudbury (five per cent), Hamilton-Burlington and Simcoe County (each by four per cent), Mississauga and Niagara (each by two per cent), Ottawa (1.5 per cent), York (1.3 per cent) and London (one per cent).

Looking ahead, BC markets are expected to see further price declines, while Alberta, Saskatchewan and Manitoba anticipate modest gains supported by affordability and steady demand.

The Ville Mont-Royal area of Montreal and Atlantic Canada remain comparatively stable heading into fall 2025. There was a 4.4-per-cent year-over-year price gain in ​Ville Mont-Royal. Demand for well-priced, move-in-ready homes continues to drive multiple offers. Buyers are increasingly cautious to enter the market. Meanwhile in Atlantic Canada, prices rose in every major market, led by Greater St. John’s (11 per cent), Saint John (9.5 per cent) and Fredericton (7.8 per cent), with steady sales activity reflecting ongoing affordability and migration trends.