Canada’s Housing Market Is Splitting in Two?
REM Editorial Team • August 26, 2025
Canada’s housing market is on the mend, but not in lockstep. Home resales are climbing nationwide, yet price trends continue to split along regional lines.
National resales rose for the third consecutive month in June. However, overall, prices remained lower, with national declines largely driven by weaker conditions in Ontario and British Columbia, according to Robert Hogue, assistant chief economist at RBC.
Hogue says regional differences in market performance have become more pronounced. Markets in the Prairies, Quebec and Atlantic Canada are experiencing tighter supply and demand conditions, while several areas in Ontario and B.C. are facing elevated inventory, affordability challenges and worsening job prospects.
SURREY, BC – The Fraser Valley market showed early signs of a spring thaw in February, with sales increasing over January, but continuing to trail typical levels for this time of year. The Fraser Valley Real Estate Board recorded 843 sales on its Multiple Listing Service® (MLS®) in February, a 36 per cent increase from January, but 38 per cent below the ten-year seasonal average. New listings declined nine per cent in February to 2,796, suggesting some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.
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