News Release

RPS-Wahi House Price Index: National Prices Dip After Two-Year Run

TORONTO, ONT. —December 16, 2025 — We’re pleased to share the latest national housing data from Wahi and Real Property Solutions (RPS) — particularly timely for anyone 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 November 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 for the first time since mid-2023, following several months of flat annual readings.

The decline reflects continued softness across all property types, led once again by the condo segment. Prices were unchanged from a year ago for detached homes, while row/townhouse and semi-detached homes values slipped into negative territory.

TWhile we’ve seen increased downward pressure on single-family home prices nationally, across most of Canada’s largest urban centres, pricing for these housing types remains up or roughly flat relative to last year,” says RPS-Wahi Economist Ryan McLaughlin.

Highlights from the November report include:

• Victoria (-1%) joined Hamilton (-3%), Toronto (-5%), and Vancouver (-4%) as the fourth major metro area to post annual price declines in 2025, though Victoria’s 1% decline was milder than in the other markets.
• Quebec City (+12%) and Winnipeg (+10%) remain Canada’s strongest-performing major markets, with Montreal (+8%) and Regina (+7%) showing continued price strength. Their relative affordability, favourable economic conditions and demographic fundamentals are driving demand, while supply constraints — particularly Quebec City’s shift toward purpose-built rentals — are intensifying competition for ownership housing.
• ​​Winnipeg and Regina remain the strongest Prairie markets, having overtaken Edmonton (+5%) and Calgary (+2%), while Alberta’s previously rapid price growth continues to cool back toward balance.
• Detached home prices — which make up over half of Canada’s housing stock — were flat year over year, while row/townhouses declined 1%, semi-detached homes dipped 2% year-over-year, and condo values dropped 6% year-over-year.

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 November (and past reports), including detailed charts, here.

RPS-Wahi economist Ryan McLaughlin is available to discuss the November 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