RPS-Wahi House Price Index May 2026 National home prices declined by 4% on a year-over-year basis in May. Most Recent Report Canadian Home Prices Drop 4% to Cap Off the Spring Market June 11, 2026 With this year’s spring housing market coming to an end, the RPS-Wahi House Price Index in May registered similar declines to previous months. Read now 2026 May Key Insights The national RPS-Wahi House Price Index declined 4% year over year in May, matching April’s annual decline. Seven of 13 major markets remain in negative territory, including Calgary (-1%), Ottawa (-4%), Halifax (-5%), Vancouver (-5%), Victoria (-7%), Hamilton (-9%) and Toronto (-9%). Markets in Quebec, particularly Montreal (+7%) and Quebec City (+11%), continue to outperform, widening the gap with other regions. Single-family home prices are showing more weakness, with detached homes down 4% year over year in May and semi-detached homes down 5%. While detached homes continue to outperform condos, the gap between single-family and multi-family price declines is narrowing. Condo depreciation remains significant, with condo prices falling at roughly the same annual pace (-7%) as they were a year ago, while row/townhouses are down 9%. Previous House Price Index Reports Prices Are Now Slipping in Most Major Canadian Housing Markets view report 6 of 13 Major Canadian Housing Markets See Prices Drop in March view report Home Prices are Now Down in 5 Major Canadian Cities view report Canadian Housing Market Begins 2026 Slow and Steady view report explore more reports Methodology The RPS-Wahi Home Price Index is the most comprehensive source for house price data in Canada and includes the median house price dollar values and extensive additional data by property type from a national to the local level. Long-Term Price Trends The RPS-Wahi House Price Index is based on the latest monthly actual home values in 1,000 towns and cities across the country. The index shows how property values have changed over time, relative to a base period (Jan. 2005 = 100). An HPI value of 300 means property values have tripled (on a smoothed, adjusted basis) since 2005.h The HPI does not indicate the actual price of a property. It demonstrates how prices have moved relative to the base period. Market Momentum A rising index indicates an upward price trend. A falling index suggests price softening or correction. Since the HPI smooths noise and filters out outliers, it gives a more stable, reliable picture of pricing trends than monthly medians.e The HPI is based on an up-to-six-month rolling average, so it does not reflect short-term volatility, such as one-off surges in prices from luxury sales. For more information, the complete methodology is available here. News Media Contact Kristin Doucet Managing Editor Tel: 877-207-4273E-mail: pr@wahi.com
