News Release

RPS-Wahi House Price Index: Canada’s Housing Market Softness Spreads Across All Property Types

TORONTO, ONT. —November 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 this fall.

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 October 2025.

According to the latest RPS-Wahi House Price Index — Canada’s most comprehensive and timely measure of home prices — national home prices were unchanged year-over-year, mirroring September’s trend. But beneath the steady national average, conditions have softened: October marked the first time in more than two years that all major property types were flat or down annually. Row/townhouse values slipped into negative territory and detached home prices, which were still rising in September, flattened.

“We saw more softness setting into the Canadian housing market at the national level this fall, with previously more resilient single-family home prices dipping,” says RPS-Wahi Economist Ryan McLaughlin. “However, the national numbers mask surprising and sustained strength in certain regions,” he adds.

Highlights from the October report include:

• Winnipeg and Quebec City are now tied as Canada’s hottest housing markets, each posting 11% year-over-year price gains in October. Their relative affordability and favourable economic conditions are driving demand, while supply constraints — particularly Quebec City’s shift toward purpose-built rentals — are intensifying competition for ownership housing.
• Regina and Montreal both recorded the third-strongest annual increase at 7%. Regina was also the only major market where price appreciation accelerated compared to September.
• ​​Winnipeg and Regina have now overtaken Calgary and Edmonton as the strongest Prairie markets, while Alberta’s previously rapid price growth continues to cool back toward balance.
• Toronto and Vancouver remain weighed down by the weak condo segments, and detached home values in both markets were down 3% year-over-year.
• Detached home prices — which make up over half of Canada’s housing stock — were flat year over year, while townhouses declined 1%, semi-detached homes dipped 2% year-over-year, as condo values dropped 6% year-over-year

These patterns underscore how affordability and supply constraints are driving the diverging price trends across Canada’s housing markets.

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

RPS-Wahi economist Ryan McLaughlin is available for interviews to discuss the findings and what they reveal about Canada’s shifting housing landscape 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