Understanding home price trends is key—especially when making decisions in our local markets. The MLS® Home Price Index (HPI) is a valuable tool for both buyers and sellers, as it goes beyond simple averages or medians. Instead, it tracks how buyers value specific home features, offering a more stable and accurate picture of price movements over time. Every month, the HPI draws from over 20 years of listing data and applies statistical models to define a 'typical' home based on real sales. By monitoring these benchmark homes throughout different neighborhoods and property types, we gain clearer insights into market shifts. This approach allows me, as a licensed residential and commercial real estate broker serving Laval and the surrounding regions, to provide clients with more precise information and context for confident decisions.

Canada is facing a significant challenge in the housing market, with the latest estimates showing we need between 417,000 and 469,000 new homes built each year through 2036 to regain the level of affordability we saw before the pandemic—across both ownership and rental sectors. Right now, we’re tracking at about 231,000 homes annually, which means we’re looking at a shortfall of nearly 2.4 million homes over the next decade. While slower population growth has offered some relief, high borrowing costs and increased construction expenses have made it even harder for new builds to keep up. Multi-family ownership, in particular, has been hit hard—fewer condo pre-sales have led many developers to hold off or cancel projects, which could tighten supply even further once demand picks up again. Government efforts, including financing and zoning updates, are helping to boost rental supply, but for homeownership projects, the private sector will need to see stronger momentum to bridge this gap. As a broker who navigates both residential and commercial markets in Laval and beyond, I see firsthand how these trends are shaping opportunities and challenges for buyers, sellers, and investors alike.

Recent improvements in housing affordability across Canada may be fleeting, as the pace of new home construction—especially for ownership properties—slows considerably. As a licensed residential and commercial real estate broker, I pay close attention to these shifts: new projections suggest we’ll need between 417,000 and 469,000 new housing starts each year to bring affordability back to pre-pandemic levels by 2036. Yet, the gap between supply and demand remains largely unchanged.

In most major markets, the bulk of new construction is now focused on rental units, while starts for ownership homes have dropped off. While increased rental supply has helped balance conditions for some, this shift doesn’t fully address the needs of future homeowners.

Slower population growth has played a role in recent affordability gains, but with construction slowing even faster than demand, there’s a risk that the market could be caught short when demand inevitably rebounds. For anyone keeping an eye on long-term stability—whether you’re looking to buy, sell, or invest—protecting affordability will require sustained focus on building more ownership housing now, not later.

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Recently, we've seen a softening in Canada's housing market, with activity dipping around 7% year-over-year and national sales down less than 1% month-over-month. Buyers are clearly weighing trade tensions, oil prices, and inflation concerns as they make their decisions. Rising Canada bond yields have also been pushing up fixed mortgage rates, making the landscape more complex for many. Despite these factors, industry experts still anticipate that late Q3 and Q4 could remain active periods. The Bank of Canada has kept its policy rate steady, and inflation is holding close to 3% for a second month—some economists are even looking at the possibility of easing in 2027. For the remainder of 2026, the outlook suggests we may see either no change or just a modest rate hike, with potential cuts on the horizon if conditions improve. The most significant catalyst for a housing rebound is tied to a US trade deal, making the next 6 to 12 months a particularly important window for buyers to watch. As a licensed residential and commercial broker serving Laval and surrounding regions, I stay tuned to these shifts to help clients navigate changing markets with confidence.

We’re seeing a slight cooling in Canada’s housing starts as the six-month trend dipped by about 1% in mid-Q3, landing near 244,000 annualized units. Meanwhile, the monthly annualized rate held steady at approximately 229,000. In major Canadian centres, actual starts reached 17,700 in mid-Q3, marking a 2% decrease compared to the same period last year. Over the first eight months of this year, that brings us to 149,500 starts—a 4% drop year-over-year. Despite these shifts, the number of homes under construction in cities with populations over 50,000 remains high, just under 372,000 units, reflecting a robust pipeline even as things moderate. It’s worth noting that completions fell more sharply, down 11% month-over-month to 17,600 units, while permits for future builds edged up slightly to 142,400. The national outlook suggests that, while we’re still above the levels of recent years, we can expect this downward trend to continue as the pace of new construction adjusts toward the end of the year. For clients in Laval and surrounding areas, staying informed on these market shifts is key to making strategic decisions, whether you’re buying, selling, or investing.