Author: Anita Shumlick B.A.

Canada has now seen ten consecutive quarters of challenging home affordability, and as a real estate agent focused on Ontario’s residential market, I’m often asked what drives these shifts. With mortgage rates unlikely to ease soon, economists are pointing to home prices and income growth as the key factors shaping affordability going forward. Over the next year, steady or slightly higher mortgage rates mean that real progress will depend on whether home prices moderate. Slower population growth could help ease demand and keep prices in check, while a strengthening labour market is expected to support household incomes. Still, economists warn that without a sustained moderation in prices, any affordability improvements may be limited. Every conversation I have with clients reflects how market conditions vary across Canada—Vancouver and Toronto present a different landscape for buyers and sellers compared to Calgary and Edmonton. My approach is always to keep clients informed and confident, whether you’re evaluating your next move or negotiating your home purchase in these evolving conditions.

This week has been a pivotal one for anyone keeping an eye on Canada’s housing landscape. We’ve seen important updates on inflation, housing, and trade—plus a looming tariff deadline that could impact nearly US$20B in Canadian exports, with unresolved issues still on the table. For those buying or selling, early Q3 readings on inflation and home sales are fueling discussion about whether the Bank of Canada might hike rates again or hold steady through 2027. Notably, a leading real estate group has adjusted its 2026 outlook, now anticipating national sales to edge lower this year instead of the modest growth previously expected. In my experience helping buyers and sellers across Ontario, these shifts highlight why staying informed—especially about housing starts, retail sales, and lending—is so essential. The latest numbers on construction, spending, and credit offer valuable insight for anyone navigating the market right now.

Labour Day in Canada marks a well-earned break celebrating workers and the unofficial end of summer, when everyone suddenly remembers all the things they meant to do in August.
It’s the last big excuse for barbecues, lake trips, and squeezing in one more summer adventure before routines and school schedules take over again.
Stores and sidewalks feel a little calmer, while patios and parks get their final big rush of summer energy and “just one more weekend” vibes.
Happy Labour Day! Wishing you a relaxed, fun-filled long weekend with good food, no alarms, and maximum enjoyment before fall shows up uninvited.

In Ontario, taxes and government charges made up ~36% of a new home's cost, putting >one-third of the price beyond core building expenses.
Development charges were a major pressure point, topping $100K per single-family home in many municipalities and, with other levies, adding as much as $200K.
A joint federal-provincial program let municipalities access funding if they cut residential development charges by 30%-50% or more and kept those reductions for three years.
After the HST cut, Ontario logged 8.4K new home sales in the first three mo, versus 3.6K in the same period yearly.
Making the HST rebate and lower development charges permanent could give buyers, builders, and municipalities the certainty needed to improve affordability and housing supply.