Why Canadians won’t spend, even when they can afford to
But whether prices are going up or coming down, Canadians are reading the movement as negative: 36% of those who perceived any price change said the shift was bad for their personal finances, compared with just 18% who called it good.
The survey also found that changing home prices are dampening market activity rather than stimulating it. Among Canadians who perceive prices as rising, 41% say the increase has made them less likely to buy, against just 13% who say they are more likely.
This matters for brokers navigating Canada’s homeownership barriers in 2026, where economic uncertainty, not rates or prices specifically, has emerged as the dominant obstacle buyers cite.
Canada’s national aggregate home price fell 1.4% year over year to $814,900 in the second quarter of 2026, according to the Royal LePage House Price Survey and Market Forecast released Tuesday.https://t.co/8rVwrl1UIL
— Canadian Mortgage Professional Magazine (@CMPmagazine) July 14, 2026
Regional divergence is pronounced. In Manitoba, 72% of respondents believe home prices have increased, placing upward pressure on affordability perceptions even as national conditions ease.
In British Columbia, respondents were evenly divided — 35% seeing an increase, 35% reporting a decrease — reflecting a market that RBC Economics described as still technically among the least affordable in Canada despite significant year-over-year improvement.
