News Release

RPS-Wahi House Price Index Shows Canadian Home Prices Flatten in July as Single-Family Homes Join Slowdown

TORONTO, ONT. —Aug 18, 2025 — Wahi, a leading Canadian real estate platform, and Real Property Solutions (RPS), Canada’s foremost provider of property valuation services, today released their monthly home price index for July 2025.

According to the latest RPS-Wahi House Price Index — Canada’s most comprehensive and timely measure of home prices — national home price growth was flat year-over-year in July as the condo slowdown in Toronto and Vancouver deepened and signs of cooling emerged in the single-family segment.

“Since the Canadian housing market began falling from its peak in 2022, prices for single-family homes have generally held up better than for condos,” says RPS-Wahi Economist Ryan McLaughlin. “While this is still the case by a large margin, we are now seeing single-family home prices flattening on an annual basis.”

Highlights from the July report include:

• 10 of 13 major Canadian cities posted annual price gains. Quebec City (+13%) and Winnipeg (+9%) led the pack, driven by a supply of affordability, demand-supply imbalances, and, in Manitoba’s case, an increase in interprovincial migration to the province.
• Hamilton and Vancouver home values fell 5%, while Toronto declined 4% — largely due to ongoing condo market weakness and, in Hamilton’s case, potentially its exposure to U.S. steel tariffs.
• Detached and townhouse prices climbed just 1%, while semi-detached homes dipped 1% year over year.
• Condo values dropped 7% year-over-year, matching a 20-year low for annual depreciation.
• Toronto condo prices fell 10% annually, and Vancouver’s dropped 9% — the steepest year-over-year declines in at least two years for both markets. Toronto and Vancouver’s high-rise markets remain in recessionary territory.

You can access the full RPS-Wahi House Price Index report for July (and previous months), including detailed charts, here.

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