News Release RPS-Wahi House Price Index: Regional Imbalances Define Canada’s Housing Market as Prices Hold Flat Nationally TORONTO, ONT. —October 16, 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 house price index for September 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 August’s trend. However, the national average masks a growing divide between regions: home prices are declining in Canada’s priciest cities, while more affordable markets continue to see gains accelerate. “The national numbers are suggestive of a market on pause, though that’s certainly not the case in cities in Quebec and Atlantic Canada, as well as certain parts of the Prairies, which may be heating up more,” says RPS-Wahi economist Ryan McLaughlin. “Despite softening in prices for all property types, there’s also a sizable gap between ground-oriented homes and apartments.” Highlights from the September report include: 10 of 13 major Canadian cities posted annual price gains. Quebec City (+13%), Winnipeg (+11%) and Regina (+9%) led the pack, driven by a demand-supply imbalance and, in the case of Winnipeg and Regina, an increase in population growth that’s fueling persistent undersupply. Halifax (+5%) also saw price acceleration compared to August. Toronto and Vancouver continued to decline by 4% amid condo market weakness, rising inventory and affordability challenges, and Hamilton home values fell 3% — potentially due to its exposure to U.S. steel tariffs. Calgary and Edmonton house prices remain in positive territory — up 3% and 5%, respectively — though the pace of appreciation has cooled from double-digit highs earlier this year due to increased housing starts and supply growth. Detached home prices — which make up over half of Canada’s housing stock — were up 1% year over year, while townhouses were flat. Semi-detached homes dipped 2% year over year, as condo values dropped 6% year-over-year, unchanged from August. 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 September (and past reports), including detailed charts, here. RPS-Wahi economist Ryan McLaughlin is available for interviews to discuss the report’s findings and what they reveal about the evolving dynamics of Canada’s housing market 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 Go To Press Release
