The Canadian housing market is undergoing a significant rebalancing, according to the latest data from the RPS-Wahi House Price Index. As of March 2026, national home prices have dipped 3% year-over-year, with six major markets—including Toronto and Hamilton—now firmly in negative territory.
Toronto currently faces a 7% annual price decline, while Hamilton leads the downward trend at 8%. This shift is affecting specific housing types differently; townhouses have seen the steepest drop at 7%, followed closely by condos at 6%. Detached homes remain the most resilient asset class, though they are not immune, recording a 3% decline. While markets like Montreal and Quebec City continue to see growth, the broader sentiment remains cautious due to macroeconomic and geopolitical uncertainty. For a deeper dive into these regional fluctuations and the full index findings, I encourage you to read the original report at mpamag.com.
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