News Release

RPS-Wahi House Price Index: Home Prices Are Now Falling for All Property Types

TORONTO, ONT. —January 18, 2026 — We’re pleased to share the latest national housing data from Wahi and Real Property Solutions (RPS) — particularly timely if you’re covering real estate market trends heading into 2026.

Wahi, a leading Canadian real estate platform, and Real Property Solutions (RPS), Canada’s foremost provider of property valuation services, today released their monthly house price index for December 2025.

According to the latest RPS-Wahi House Price Index — Canada’s most comprehensive and timely measure of home prices — national home prices were down by 1% year-over-year, with home prices declining across all property types for the first time since mid-2023.

“The Canadian housing market ended the year with prices trending in the opposite direction from the beginning of the year,” says RPS-Wahi Economist Ryan McLaughlin. “However, headline national numbers do mask some stark regional differences and underlying signs of stability in several major markets,” he continues, adding that a recent Wahi survey found Canadian homebuying intentions were holding steady for 2026.

Highlights from the December report include:

• Victoria (-3%) joined Toronto (-6%), Hamilton (-4%), and Vancouver (-4%) as the fourth major metro to record year-over-year price declines in 2025. While Victoria’s depreciation has been more noticeable than earlier in the year, indicators such as stable sales activity and a balanced sales-to-active listings ratio suggest conditions are not worsening materially.
• Quebec City (+12%), Regina (+10%), Winnipeg (+9%) and Montreal (+8%) emerged as Canada’s strongest-performing major markets in 2025, posting robust gains despite broader economic uncertainty. Relative affordability, resilient employment conditions, and favourable demographic trends continue to support demand in these centres.
• ​​Prairie market momentum has cooled but remains positive, with Calgary (+2%) and Edmonton (+4%) settling back from earlier double-digit growth toward more balanced conditions, while Regina and Winnipeg continue to outperform.
• Detached home prices slipped 1% year-over-year, while semi-detached and row/townhouses were down 3%. Condo prices continued to lead declines, falling 5% nationally, driven in large part by persistent weakness in Toronto and Vancouver, with additional corrections evident in Hamilton and Calgary.

These trends highlight how differences in affordability and supply are shaping the varied price movements across Canada’s housing markets.

You can access the full RPS-Wahi House Price Index for December (and past reports), including detailed charts, here.

RPS-Wahi economist Ryan McLaughlin is available to discuss the December findings and what they signal for Canada’s housing market heading into 2026.

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