Canada's housing market may see 400,000 delayed buyers return

RBC Economics estimates over 400,000 potential households have been suppressed since 2019, and these financially ready buyers may soon enter Canada's housing market as it stabilizes. Many would-be buyers have savings near a 25-year-high rate and strong employment among 25- to 34-year-olds, outweighing reduced demand from newcomers. The labour market is expected to face a worker shortage next year, boosting job prospects. Canada's national average home price was $674,819 in July, up 0.2 per cent from a year ago. RBC predicts sales will rise in 2027, especially in Ontario and British Columbia, though condo prices may stay weak due to abundant inventory.