Canada’s major markets moved in different directions in Early-Q3 2026, with recoveries, turnarounds, supply pressures, soft landings, and continuing weakness appearing together.
Toronto showed recovery signs with five straight mo of resale gains, a second MoM benchmark price rise, and Ontario inventory leveling off.
Even so, Toronto remained uneven: resales stayed >30% below pre-pandemic levels, the 905 region lagged yearly, and abundant condo supply kept pressure on prices.
Calgary’s issue was supply, not demand: new listings fell in 5 of 6 mo, active listings ↓>4% yearly, and price declines eased.
Vancouver remained in a deeper slump, with resales ↓>8% MoM and prices ~6% lower yearly, while an economist expected Canada’s unevenness to persist.