News Release

RPS-Wahi HPI: Canadian Home Prices Slip 3% as Tariff-Exposed Markets Are Hit Harder

TORONTO, ONT. — August 13, 2026 — We’re pleased to share the latest national housing data from Wahi and Real Property Solutions (RPS), offering timely insight for anyone covering Canadian real estate trends.

Wahi, a leading Canadian real estate platform, and Real Property Solutions (RPS), the foremost Canadian provider of property valuation services, today released their July 2026 House Price Index.

According to the latest index — Canada’s most comprehensive and timely measure of home prices — national home prices declined by 3% on a year-over-year basis in July, roughly in line with the pace of annual depreciation recorded throughout 2026.

“Broadly speaking, the Canadian housing market is stuck in neutral and has been for some time,” says RPS-Wahi Economist Ryan McLaughlin. “Homebuying sentiment has soured with economic uncertainty, and although property values in Canada’s most expensive markets have plunged from pandemic highs, affordability challenges are still a reality for many would-be buyers.”

Economic uncertainty isn’t the only factor weighing on the market. Slower immigration and population growth, a labour market that still has room to improve, and elevated housing supply in markets such as Toronto and Vancouver are also keeping a lid on prices. The multi-family segment remains particularly weak, with townhome prices down 8% and condo prices down 6% annually.

The impact has been especially pronounced in some communities that are more exposed to U.S. tariffs. Of 19 tariff-sensitive markets Wahi has been monitoring since early 2025, 12 recorded year-over-year price declines in July, led by Brantford, Ont. (-10%), Barrie, Ont. (-10%), and Abbotsford, B.C. (-9%). At the beginning of 2025, all 19 had been experiencing annual price growth.

Highlights from the July report include:

• The national RPS-Wahi House Price Index declined 3% year over year in July, unchanged from June.
• Among the 13 major markets, some of the steepest declines were recorded in Toronto (-8%), Hamilton (-7%), Victoria (-6%) and Vancouver (-4%).
• Quebec City (+11%) and Montreal (+6%) continued to buck the national trend with strong annual price growth.
• Prairie markets also remained comparatively resilient, with Saskatoon (+4%), Regina (+3%) and Winnipeg (+4%) posting annual gains, although growth has moderated from last year.
• Townhomes (-8%) and condos (-6%) were the weakest property types nationally, followed by semi-detached homes (-4%) and detached homes (-3%).
• Of 19 markets identified as particularly sensitive to U.S. tariffs, 12 are now experiencing annual home-price declines, compared with price growth across all 19 at the beginning of 2025.

You can access the full RPS-Wahi House Price Index for July 2026, including detailed charts, here.

RPS-Wahi Economist Ryan McLaughlin is available to discuss what the latest data signals about economic uncertainty, tariff exposure, regional market disparities and the outlook for Canada’s housing market through the remainder of the summer.

About the Index:

The RPS-Wahi House Price Index data covers 1,000+ cities and towns across Canada, making it one of the most current and comprehensive indicators available. It includes the median house price dollar values and extensive additional data by property type from a national to the local level.

About Real Property Solutions

RPS is a leading national appraisal management company in Canada with a network of over 3,500 appraisers providing property valuation services to major financial institutions across the country. RPS is also the foremost provider of residential data solution services including the RPS House Price Index, RPS Automated Valuation Model (AVM), Portfolio Valuation Services, and the Collateral Assessment Review (CAR).

About Wahi

Wahi is a digital real estate platform that redefines the homebuying experience by putting more power into consumers’ hands by combining cutting-edge tech and market data with expert REALTORS®.

News Media Contacts:

Kristin Doucet

Wahi

Tel: 877-207-4273

Kristin.Doucet@wahi.com