News Release

RPS-Wahi HPI: Home Prices Now Down in Most Major Canadian Markets

TORONTO, ONT. —May 12, 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 as the spring market unfolds.

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

According to the latest data — Canada’s most comprehensive and timely measure of home prices — national home prices declined by 4% on a year-over-year basis in April. That marks the sharpest annual drop recorded by the index since July 2023 and a slightly steeper decline than in March, when prices were down 3% annually.

“More markets across Canada are displaying buyer-friendly signs, though affordability remains a concern nearly across the board,” says RPS-Wahi Economist Ryan McLaughlin.

Calgary’s shift into negative territory follows a period of rapid growth. “Calgary began last year with a boom as prices were soaring by upwards of 10%,” says McLaughlin. “In this context, the latest price declines in the market are negligible,” he continues.

Highlights from the April report include:

• Seven of 13 major markets are now in negative territory, with Calgary (-1%) newly joining Halifax (-5%), Ottawa (-5%), Vancouver (-5%), Toronto (-8%), Victoria (-8%) and Hamilton (-9%).
• The national index declined 4% year over year, the sharpest annual drop since July 2023 and a steeper decline than March’s 3% decrease.
• Calgary and Halifax, which had previously been contributing to national price growth, are now recording annual declines, signalling more balanced conditions in formerly hot markets.
• Markets in Quebec, particularly Montreal (+8%) and Quebec City (+12%), continue to outperform, widening the gap with other regions.
• Single-family home prices are showing more weakness, with detached homes down 4% year over year in April and semi-detached homes down 5%. While detached homes continue to outperform condos, the gap between single-family and multi-family price declines is narrowing.
• Condo depreciation remains significant, with condo prices falling at roughly the same annual pace (-7%) as they were a year ago, while row/townhouses are down 9%.

The spread of price softness into Calgary highlights how housing conditions are becoming increasingly mixed across Canada, with more markets showing buyer-friendly signs even as affordability remains a challenge.

You can access the full RPS-Wahi House Price Index for April 2026, 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 continues.

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