Why Are Toronto and Vancouver Home Prices Falling in 2026?
Posted by Christopher Audette on
The Toronto and Vancouver markets are still correcting from their pandemic-era peaks. Meanwhile, the rest of the country is rolling along like normal, better than normal, in some cases.
The Toronto and Vancouver House Price Reality
Housing starts are down 11% year-over-year in Toronto and 1% in Vancouver, a sign that even new construction supply has pulled back in response to the correction. British Columbia remains the most buyer-friendly provincial market nationally at 6.7 months of inventory as of May 2026 (WOWA.ca), and days on market have stretched considerably across both Greater Toronto Area communities and Vancouver neighbourhoods.
And yet Greater Vancouver's average price still edged up 2.1% month-over-month to $1,235,658. Why are…
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