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As Canada heads into the fall season, the housing market appears to be undergoing a notable shift. The 2025 Fall Housing Market Update, based on a Leger survey, reveals a growing sense of optimism among buyers, as 54% indicated this fall is a favorable time to strike a deal. In contrast, sellers are adopting a more realistic stance amid rising inventory and easing prices. Nationally, home prices are projected to decline by an average of 6.5% through the season, while overall sales are expected to drop roughly 5% by the end of the year.

However, the outlook is not uniform across the country. Atlantic Canada and the Prairie provinces are bucking the broader trend, with price increases recorded in all major markets from January to July 2025—and rising sales activity in Atlantic Canada. Conversely, a majority of markets in Ontario and British Columbia have experienced price declines. This contrast underscores how the housing landscape is being shaped by regional dynamics and economic uncertainty.

The composition of buyers is also shifting. Unlike 2024 when first-time buyers dominated, 2025 sees more families, newcomers, and retirees entering the market. Only 7% of poll respondents plan to buy their first home within the next year—many of whom are aged in their late 20s through 40s, highlighting persistent affordability challenges. Encouragingly, first-time buyers appear better prepared, with nearly 28% having saved at least 20% down, and another third having at least 15%. On the selling side, confidence is also building—8% of those surveyed intend to sell within a year, and nearly two-thirds believe they can secure their asking price. Brokers report a 25% surge in conditional sales across 33 of 37 regions surveyed, reflecting heightened buyer confidence and improving affordability.

Read the full article on: WP