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- Douglas Todd : NDP housing plan is working , says David Eby . Here a reality check
NDP leader David Eby says the party's housing plan has driven average asking rents down 13% over the past three years. Analysts attribute much of the decline to lower federal migration after Ottawa curbed international students and non-permanent residents, plus a weak B.C. economy. B.C.'s average rent is $2,403 a month, still the highest in Canada, versus a national average of $2,034. Wendy Waters notes most rental and condo construction decisions predate Eby becoming leader in 2022, while David Williams of the Business Council of B.C. links falling home prices mainly to higher mortgage rates. Waters predicts rents will likely decline in B.C. over the next year.
- Canadian Home Sales Pull Back in September
Home sales recorded over Canadian MLS® Systems fell 2.3% month-over-month in September 2026 and were 7.7% below September 2025. CREA attributed the pullback to a fresh jump in fixed mortgage rates and expectations that the Bank of Canada will raise rates before year-end. New listings dropped 1.8% month-over-month, while the MLS® Home Price Index edged down 0.4% monthly and fell 3.4% year-over-year. The national average sale price was $666,538, down 1.6% from a year earlier. The sales-to-new listings ratio eased to 48.8% from 49.1% in August.
- CREA Revises Resale Housing Market Forecast
The Canadian Real Estate Association (CREA) has updated its 2026 and 2027 forecasts for home sales and average home prices. Fixed mortgage rates rose sharply again as oil prices climbed in early September and the Bank of Canada took a more hawkish tone, with markets pricing in about 100 basis points of rate hikes within a year. Home sales fell in September, and CREA now expects 444,530 residential properties to trade in 2026, down 5.2% from 2025, with downward revisions in all provinces except Newfoundland and Labrador. The national average price is forecast to rise 0.2% to $681,681 in 2026, as declines of 3% in Ontario and 0.8% in British Columbia offset gains elsewhere. In 2027, sales are forecast to climb 4.4% to 464,235 units and the average price to rise 1.2% to $689,909.
- Canadian Home Sales Pull Back in September
Home sales on Canadian MLS® Systems fell 2.3% month-over-month in September 2026 and were 7.7% below September 2025 on an unadjusted basis. CREA said the slowdown followed a sharp jump in fixed mortgage rates, with the Bank of Canada widely expected to raise rates before year-end. New listings fell 1.8% month-over-month, leaving national inventory at about 4.9 months, close to the long-term average. The National MLS® Home Price Index edged down 0.4% from August and was down 3.4% year-over-year, reflecting a fresh decline in Ontario, while the average home price was $666,538, down 1.6% from a year earlier. The national sales-to-new listings ratio eased to 48.8% from 49.1% in August, below the 54.7% long-term average.
- Canadian Home Sales Pull Back in September
Home sales recorded on Canadian MLS® Systems fell 2.3% month over month in September 2026 and were 7.7% below September 2025 on an unadjusted basis. New listings dropped 1.8% from August, and the MLS® Home Price Index edged down 0.4% monthly and 3.4% year over year. The national average sale price was $666,538, down 1.6% from a year earlier, while the sales-to-new listings ratio eased to 48.8% from 49.1%, below its long-term average of 54.7%. Inventory stood at 4.9 months, in line with the long-term average. CREA Chair Garry Bhaura said higher fixed mortgage rates make buying harder but could bring more homes to choose from and more negotiating power for buyers.
- CREA Revises Resale Housing Market Forecast
CREA has updated its forecasts, now expecting 444,530 residential properties to change hands via MLS systems in 2026, a 5.2% drop from 2025. The downgrade reflects higher fixed mortgage rates after the Iran conflict and uncertainty over variable rates, and it applies to every province except Newfoundland and Labrador. The national average home price is forecast to rise 0.2% to $681,681 in 2026, with declines of 0.8% in British Columbia and 3% in Ontario offset by gains elsewhere. For 2027, sales are projected to climb 4.4% to 464,235 units and the average price to reach $689,909, up 1.2%, based on the assumption of limited Bank of Canada action over the next year.
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