A majority of Canadians—64%—believe there is no perfect time to buy a home, according to RBC's latest Home Ownership Poll released June 23, 2026. The survey highlights how economic uncertainty, rising living costs, and shifting market conditions are reshaping homebuying decisions across the country.
Canadians Divided on Market Conditions
The poll reveals a split in perceptions of the housing market. Nationally, 27% of respondents see a buyer's market while 36% view it as a seller's market. Regional differences are stark: Quebec (57%) and Atlantic Canada (52%) are most likely to call it a seller's market, whereas British Columbia (39%) and Ontario (38%) lean toward a buyer's market. Among prospective buyers—those planning to purchase within two years—45% believe now is the right time, compared to just 27% of all Canadians polled.
Prospective Buyers See Opportunity Amid Uncertainty
Despite widespread uncertainty, many prospective buyers interpret current conditions as a window of opportunity. Over half (58%) say lower home prices and 54% point to lower interest rates as enabling their purchase. More than half (53%) believe there is only a small window before prices rise again, and 49% expect interest rates to climb this year, fueling urgency to act. First-time home buyers are particularly optimistic: 63% say the First-Time Home Buyer GST/HST Rebate will help them buy sooner, and 52% believe current market conditions give them a chance to enter the market.
Economic Uncertainty Clouds Confidence
However, economic uncertainty remains a major barrier. Among those intending to buy within two years, 75% say economic uncertainty makes them more cautious, 72% call it the biggest challenge to buying a home, and 67% worry it will affect their plans. “Many of my clients want to buy a home, but economic uncertainty is making it harder to feel confident about timing,” said Brad Evjen, Senior Mortgage Specialist at RBC. “Our focus is to help people understand their options and what they can control, to put a plan into place and to feel as confident as possible when the right opportunity presents itself.”
Trade-Offs Intensify as Costs Rise
Rising costs are cutting into savings before buyers even reach the trade-off stage. Nearly three-quarters (71%) of prospective buyers say inflation is causing them to save less for a home. The poll indicates that financial trade-offs are intensifying as buyers adjust to higher living costs. “Rising costs and shifting economic conditions have made every step of the homebuying journey feel higher-stakes, and the pressure of whether to act is weighing on Canadians,” said Janet Boyle, Senior Vice President of Home Equity Finance at RBC. “While the barriers to home ownership have always existed, how they look has shifted. What hasn’t changed is the importance of knowing what’s right for you, and it starts with having an honest conversation with an expert who knows your full financial picture.”
Tailored Advice for Navigating Uncertainty
RBC emphasizes the need for personalized guidance in the current market. The poll underscores that while many Canadians feel stuck, prospective buyers are finding reasons to move forward. The combination of lower prices, reduced interest rates, and government incentives like the GST/HST rebate is creating a narrow window for some. Yet economic headwinds and inflation continue to dampen overall confidence, making expert advice crucial for those navigating the homebuying and renewal process.
