Canadian homebuyers cite affordability, not uncertainty, as chief barrier

That reading aligns with independent institutional data. Canada Mortgage and Housing Corp. projects the economy to grow just 0.7% in 2026, one of the weakest years in recent decades outside a recession. The agency attributes softening prices to a large resale inventory, persistent affordability challenges and weak sales, and warns that a mild recession cannot be ruled out if business investment falters.

Sentiment sours as prices stay elevated

Negative views of the market were widespread. Almost nine in 10 respondents (88%) agreed that homes in Canada are overpriced, and 69% said the market is unfair to first-time buyers. A further 68% said the market is too focused on housing as an investment. Just 14% said the market is functioning the way it should.

A generational split ran through the data. Among those aged 18 to 34, 63% agreed that homeownership feels out of reach, roughly double the 31% recorded among respondents 55 and older. Agreement that homes are overpriced was also higher among younger respondents, at 92%, compared with 82% of those 55 and older.

The affordability squeeze persists even as prices ease. The Canadian Real Estate Association (CREA) reported its benchmark price index fell 4.1% year-over-year in May 2026, yet the national average sale price still edged up 1.5% over the same period, leaving ownership beyond reach for many.

Buyers wait as spring market recovers

The survey found demand simmering rather than dead: 35% of non-homeowners said they wanted to buy but would likely keep renting (28%) or living with relatives (7%). Interest was lowest among non-owning women, 62% of whom reported no plans to buy, compared with 47% of non-owning men.