News Release

RPS-Wahi House Price Index: Home Prices Now Down in 5 Major Canadian Cities

TORONTO, ONT. —March 16, 2026 — We’re pleased to share the latest national housing data from Wahi and Real Property Solutions (RPS) — timely insight for anyone covering real estate market trends going into the spring market.

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

According to the latest data — Canada’s most comprehensive and timely measure of home prices — national home prices fell 2% year over year, matching the decline observed in January. However, the latest reading highlights a new development: five major Canadian housing markets of the 13 major metro areas analyzed are now experiencing annual price declines.

Ottawa has become the latest market to join that group, marking the first major city outside of British Columbia and the Greater Toronto and Hamilton Area to see home values fall on a year-over-year basis. Ottawa prices slipped 1% year over year in February, joining Hamilton, Toronto, Vancouver and Victoria, where prices have already been trending downward.

“Price drops may grab headlines, but these declines potentially overshadow the fact that home prices remain up relative to where they stood a year ago in a majority of Canada’s major housing markets,” says RPS-Wahi Economist Ryan McLaughlin. “Not only that, but several markets in Quebec and the Prairies continue to show strong price growth.”

Highlights from the February report include:

• Hamilton (-6%), Toronto (-6%), Vancouver (-4%) and Victoria (-7%) continue to post year-over-year declines.
• Markets in Quebec City (+13%), Montreal (9%), Winnipeg (+7%), and Regina(+4%) continue to show stronger price momentum, helping offset weakness in Toronto and Vancouver.
• Condo prices remain the weakest segment, down 5% nationally, with the trend holding steady since late 2025. Row/townhouses also declined 5%, while semi-detached homes fell 3% and detached homes dropped 2%.

Ottawa’s shift into negative territory highlights how housing market trends are becoming more mixed across Canada, with price softness concentrated in major markets with larger condo sectors, while many other regions remain comparatively resilient.

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

RPS-Wahi Economist Ryan McLaughlin is available for interviews to discuss what the latest data signals for Canada’s housing market as the spring market approaches.

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