Canada housing prices fall in Toronto, Vancouver

Canada's housing market shows mixed signals in April 2026, with major cities experiencing price declines. The average home price in Toronto dropped 4.1% to $1.1 million, while Vancouver saw a 7.1% fall to $1.2 million, with detached homes hitting a $1.99 million benchmark. Elevated inventory levels and rising mortgage rates, attributed to global factors, are cooling demand and creating strong buyer conditions across property types. A national forecast predicts market stabilization, but Ontario markets are expected to see continued declines.