News Release

RPS-Wahi HPI: Canadian Home Prices Slip 3% as Housing Recovery Stalls

TORONTO, ONT. — September 15, 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 August 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 August, roughly in line with the pace of annual depreciation recorded throughout 2026. The pace of depreciation has remained largely unchanged throughout 2026, suggesting the housing market’s anticipated recovery remains on hold despite firmer sales activity in some key markets.

“The Greater Toronto Area and Greater Vancouver aren’t the only markets where condo prices are correcting,” says RPS-Wahi Economist Ryan McLaughlin. “While Calgary as a whole is displaying balanced conditions, condo values across the metro area have declined significantly this year,” he continues.

Economic uncertainty stemming from the ongoing Canada-U.S. trade war continues to weigh on homebuyer sentiment, while weakness in the condo sector remains another major drag on the market.

There were some signs of stabilization at the regional level. Six of the 13 major metro areas analyzed posted annual price declines in August, down from seven in July, as Calgary moved into balanced territory with prices flat year-over-year.

Highlights from the August report include:

• The national RPS House Price Index declined 3% year over year in August, continuing the pace of depreciation seen throughout 2026.
• Toronto (-7%) and Hamilton (-7%) recorded the steepest declines among the 13 major metro areas as Vancouver (-3%) and Victoria (-3%) continued to move closer to balanced conditions, while Ottawa-Gatineau (-1%) and Halifax (-1%) posted comparatively modest declines.
• Calgary home values were flat year over year, improving from negative territory in July.
• Quebec City (+11%) remained the strongest major market, followed by Montreal (+6%) and Regina (+6%).
• Row/townhouse values (-7%) and condos (-6%) remained the weakest property types nationally, compared with declines of 3% for both detached and semi-detached homes.
• Condo weakness is extending beyond Ontario and B.C., with Calgary’s multi-family segment now underperforming detached homes as a wave of new condo supply comes to market.

You can access the full August 2026 RPS House Price Index, including detailed charts, here.

RPS-Wahi Economist Ryan McLaughlin is available to discuss what the latest data signals about the stalled housing recovery, economic uncertainty, regional market disparities, condo-market weakness and the outlook for Canadian home prices this fall.

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