Is Canada’s Housing Market Finally Turning the Corner?
Canada’s Housing Market Is Changing — Here’s What’s Happening
In the past few years, home prices in Canada went way up. Then, things slowed down. It made a lot of people — especially young buyers — feel scared. Houses became really hard to afford.
In 2025, Mark Carney became Canada’s new Prime Minister. Since then, he’s made a big plan to help fix the housing problem. Now, one year later, it looks like his plan is starting to help.
Let’s look at what Mark Carney is doing — and how it helps people like you.
What Is Mark Carney Doing to Help?
🏠 Building More Homes: He started a group called Build Canada Homes with $13 billion. Their job? Build more homes across the country — fast. They work with cities and builders to make homes that are cheaper and faster to build.
🏘 Helping Renters Too: It’s not just about owning a home. Carney is also building apartments and helping renters. His team is giving money to protect affordable rentals so they don’t get too expensive.
💸 Saving You Money: First-time homebuyers no longer have to pay GST (5%) on new homes under $1 million. That’s big savings! There are also tax breaks to help builders create more rental units.
👷 Bringing In Builders: To build faster, Canada needs more workers. Carney is bringing in skilled construction workers from other countries to help build homes faster.
👨👩👦 Balancing Supply and Demand: Canada needs millions of homes. Carney is helping build more — but also slowed immigration a bit to make sure we don’t grow faster than we can build.
Did It Work?
In 2022–2024, things were bad. Prices were high, sales were low, and people were nervous. But Carney’s plans gave people hope.
🏡 Home prices dropped — but didn’t crash. 💰 The government spent money to support the market. 📉 Interest rates started to go down, making mortgages easier to afford.
Now, people are starting to look at homes again. Builders are back to building. Slowly, the market is waking up.
When Will Things Feel “Normal” Again?
Experts say 2026 will be a “recovery year.” That means things will get better, but slowly:
- Prices might rise 2–3%
- More homes will sell
- Interest rates will stay low
By 2027, we might see real improvement. But no one wants crazy price jumps again — we want homes to be affordable and stable.
Why Carney’s Plan Matters
Carney is an expert in money and markets. He’s working with the Bank of Canada to lower inflation and interest rates. That helps everyone — buyers, sellers, and renters.
His main goal: Build more homes. Make them affordable. Help more people find a place to live.
And it’s working.
🏗 Builders are building. 😊 Buyers feel safer. 💼 Jobs are being created.
Is It Perfect? No. But It’s a Big Step Forward
There are still problems. Not enough workers. Some cities are slow to approve new buildings. But overall, the market is getting better.
If we keep going like this, Canada could build more homes in the next 5 years than we’ve built in decades.
What This Means for You
✅ If you want to buy a home — prices are more fair now. ✅ If you already own — your home value might slowly go up again. ✅ If you’re renting — more rentals are being protected and built.
This is your chance to make a move while the market is still recovering.
Let’s Talk About Your Next Move
Are you thinking about buying your first home? Looking to refinance or invest?
Now’s the time to plan smart. I can help.
📞 Contact me today and let’s talk about your mortgage, your goals, and how we can make the most of this improving market.
Your dream home is closer than you think — let’s go get it.
