We’re seeing national home prices at their softest point since early Q2 2023, with a national index of 11 major cities slipping by less than 0.5% month-over-month in the latest data. That’s eight declines in the last nine months, reversing the gains we saw not long ago. Across the country, prices are now down about 4% from their late-Q4 2025 peak. The rebound from earlier this year faded quickly, as the adjusted measure dipped nearly 0.5%—the first decrease in six months, despite recent support from stable employment and a bit of improved affordability. Annual price losses have deepened to around 4% nationwide, with Vancouver, Hamilton, and Toronto at the forefront of the declines, even as places like Quebec City, Montreal, and Winnipeg saw some gains. For those watching Vancouver’s market closely, these movements highlight how quickly conditions can shift. With higher bond yields on the horizon, new mortgage costs are expected to rise, borrowing power may be squeezed, and affordability will be put to the test as sales activity cools again. As someone who advocates for clients every step of the way, I believe it’s essential to stay informed and approach each decision with a clear understanding of these evolving trends.
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