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According to the Royal LePage® House Price Survey and Market Forecast, the aggregate1 price of a home in Canada increased 2.1% year over year to $829,400 in the first quarter of 2025. On a quarter-over-quarter basis, the national aggregate home price rose a modest 1.2%. When broken out by housing type, the national median price of a single-family detached home increased 2.8% year over year to $868,700, while the median price of a condominium increased 1.0% year over year to $598,000.
Housing market activity has been softer than expected so far this year, especially in Ontario and British Columbia. Meanwhile, comparatively strong demand paired with low supply has led to price appreciation in the province of Quebec, the Prairies and Atlantic Canada, despite ongoing geopolitical tensions and economic uncertainty.
“The typical spring market didn’t kick off as energetically as expected, and geopolitical uncertainty is playing a major role,” said Phil Soper, president and CEO, Royal LePage. “Even if these measures don’t directly impact housing, they contribute to a climate of caution that weighs heavily on large consumer decisions, at home and around the world.”
According to a recent survey,2 49% of Canadians say they are confident in the country’s economy today, including only 6% who are very confident. Meanwhile, 43% say they are not confident. Respondents in the province of Quebec are the most confident, while those in the Prairies are the least confident.
“Canada has weathered economic storms before, including the 2008 financial crisis and the 2020 pandemic, emerging with a reputation for steady leadership and economic resilience,” said Soper. “The housing market continues to provide people with a reliable foundation in uncertain times, with price stability and mortgage default rates that remain among the lowest in the world. While some sectors will be harder hit than others by prolonged trade disruptions, both federal and provincial governments have the tools and fiscal capacity to support those most affected.”
Royal LePage is forecasting that the aggregate price of a home in Canada will increase 5.0% in the fourth quarter of 2025, compared to the same quarter last year.
Learn more:
National release: rlp.ca/Q1-2025-hps-release
Regional analyses: rlp.ca/regional-releases
Quebec Markets release: rlp.ca/Q1-2025-hps-release-QC
House Price Survey Chart: rlp.ca/house-prices-Q1-2025
Market Survey Forecast Chart: rlp.ca/market-forecast-Q1-2025
Consumer Confidence Survey Chart: rlp.ca/2025-consumer-confidence-survey
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