In January 2026, sales and prices trended lower compared to December and last year, which is consistent with buyers remaining quite sensitive in a high-rate environment
Detached prices held up best, likely reflecting a higher-income buyer pool that was less payment-sensitive with fewer true substitutes in the low-rise market. Even so, year-over-year price declines have improved relative value and helped support demand where buyers are ready to act.
Conditions remain buyer-leaning, with more active listings and fewer sales than a year ago. As spring supply typically builds into March, watch whether demand keeps pace as buyers look to the Bank of Canada for clearer direction on borrowing costs.