Home resale activity in November showed signs of life across much of Canada, with markets such as Vancouver, Fraser Valley, Calgary, Edmonton, Regina, Saskatoon, Winnipeg and Montreal posting increases compared with October — in some cases by more than 5%. This uptick marks a shift after a quiet season, but overall activity remains well below levels from the previous fall. On the flip side, resale activity in Toronto and Hamilton declined further, underscoring economic challenges in southern Ontario and diverging conditions across the country.  

Prices continue to follow recent trends: in markets with abundant supply like Vancouver, Calgary and Toronto, home values are still edging downward as buyers benefit from greater negotiating power. Meanwhile, parts of the Prairies and Quebec are seeing more stable or even solid price gains. Looking ahead, the report expects these diverging trends to persist into early 2026, even as broader recovery gradually builds with improving economic and labour-market conditions.

Source: RBC Canadian Analysis