For housing markets across Canada, 2025 was “a tumultuous year marked by economic and political shifts and 2026 will be a crucial reset year for Canada’s housing market,” says Phil Soper, Royal LePage's president and chief executive officer, in the real estate giant’s Market Survey Forecast report.
The report says the aggregate price of a home (the average price of all housing types) in Canada will stay relatively flat, increasing a modest 1% to $823,016 by the end of 2026; the median price of a single-family home to increase 2% to $876,934; and the median price of a condominium to decrease 2.5% to $563,918.
The predicted average prices are heavily influenced by the Greater Toronto Area (GTA) and Greater Vancouver Area (GVA), both of which are forecast to see prices decline.
In the GTA, the aggregate price is forecast to be $1,054,558 (-4.5%); an average single-family home price of $1,382,832 (-1%); and an average condominium price of $615,885 (-6.5%).
In the GVA, the aggregate price is predicted to be $1,147,868 (-3.5%); the average single-family home price $1,610,915 (-5%); and the average condominium price $712,853 (-3%).
Meanwhile, Alberta’s big cities, both of which have seen a rush of buyers from BC and Ontario, are expected to see price increases.
Calgary
By the end of 2026, the Royal LePage report predicts the aggregate price of a home to increase 1.5% to $701,061; the median price of a single-family home to rise 3% to $828,429; and the median price of a condominium to increase 1% to $265,832.
“While activity has slowed from last year, it is still tracking above the 10-year average, supported by continued interprovincial migration from British Columbia and Ontario, and a local economy that is expected to outperform national growth,” says Corinne Lyall, broker and owner, Royal LePage Benchmark. “Looking ahead, Calgary’s housing market is expected to remain consistent and balanced through next spring, with sales activity improving and home prices increasing modestly in 2026, driven by strong demand for detached homes.”
Lyall adds consumer confidence is strong in Calgary, though buyers have been watching interest rates and putting decisions off until the spring.
“The market continues to reflect a tale of two segments: the condo market, firmly in buyers’ territory due to a surplus of inventory, is weighing on overall price performance,” she says. “Meanwhile, competition in mature neighbourhoods closer to downtown remains much tighter, driven by limited redevelopment opportunities and larger lots that rightfully command a premium.”
Newer, developing communities have inventories available and more choice for buyers particularly in the $800,000 to $1 million range, where much of the new construction activity is concentrated, says Lyall.
“At the upper end of the market, homes priced above $2 million continue to perform exceptionally well, underscoring the depth and diversity of demand across Calgary, which is still one of the most stable and resilient housing markets in the country,” she says. “Overall, conditions are now better aligned between supply and demand, creating a healthier environment where buyers benefit from more choice, and sellers are adjusting to more realistic expectations.”
Edmonton
The aggregate price of a home by the end of 2026 is forecast to increase 2% to $480,930; the median price of a single-family home to rise 4% to $542,568; and the median price of a condominium to increase 1% to $207,454.
“While the market felt particularly strong coming into this year, momentum heading into 2026 feels more subdued, a return to a traditional real estate cycle we haven’t seen in nearly a decade,” says Tom Shearer, broker and owner, Royal LePage Noralta Real Estate. “Overall, sales volume will have been lower in 2025 compared to 2024, with similar levels expected next year. This reflects a market that is stabilizing after years of fluctuation.”
“From the economic challenges of the 2015 to 2019 period to the accelerated activity brought on during the COVID era, we’re finally back to typical market conditions. Looking ahead, home prices are expected to increase modestly next year.”
Shearer added Edmonton is one of the most affordable major markets in the country, with demand driven largely by local buyers, particularly for entry-level homes such as townhomes and condominiums.
“The wave of buyers who moved here in recent years because of the city’s affordability has tapered. The current buyer pool includes more demand from those who want to feel secure in their employment before making a move,” he says. “Still, there is a sense of confidence in the market. Buyers view home purchases as stable, long-term investments.”
“Balanced conditions and steady demand next year will reinforce the region’s position as a stable and reliable place to own a home.”