This province is quietly outpacing Canada’s housing market
National sales growth has been downgraded modestly following a weaker-than-expected first quarter. TD does not see sales recovering to pre-pandemic levels until the second half of 2027, constrained by weak population growth and soft labour market conditions through the forecast horizon.
Saskatchewan leads the country
The clearest outperformer is Saskatchewan, where year-on-year price growth was approaching double digits in May 2026 at approximately 9%, according to TD, with sales levels remaining elevated relative to historical norms.
Affordability in the province sits within long-term ranges, a rarity among Canadian provinces, which TD expects to sustain strong buyer activity through both 2026 and 2027, making Saskatchewan the projected leader in provincial price growth across both years.
Newfoundland and Labrador is similarly firm, with prices up nearly 6% year-to-date, supported by commodity-linked income gains and tight supply-demand conditions, though TD sees that pace moderating as interprovincial migration slows.
Robert Hogue and Rachel Battaglia of Royal Bank of Canada say affordability reached its best level since early 2022, with Toronto and Vancouver leading the recovery while regional markets continue to see mixed results.https://t.co/eUrQr438Ex
— Canadian Mortgage Professional Magazine (@CMPmagazine) June 30, 2026
For brokers, the on-the-ground reality in Saskatchewan is constrained supply and pre-approved buyers competing for limited listings.
