Home prices increased in these 10 Canadian cities

A new report found 10 major Canadian cities where home prices increased.

After a slow spring real estate market, prices are starting to stabilize, the June Home Price Index report from Canadian real estate platform Wahi and property valuation company Real Property Solutions found.

Following three straight months of slowing growth, the price index held steady in June, rising one per cent year-over-year, matching May’s pace, which had marked the smallest gain since August 2023.

While modest, this growth may indicate the first signs of stabilization in Canada’s housing market, Wahi said in the report.

“It is unclear whether the Canadian housing market is bottoming out just yet, but there were some green shoots in June,” said Real Property Solutions-Wahi president and CEO Benjy Katchen.

A new report from Royal LePage was also optimistic about the market, forecasting that the aggregate price of a home in Canada will increase 3.5 per cent in the fourth quarter of 2025, compared to the same quarter last year.

Canada’s largest urban markets — Toronto, Vancouver, and Hamilton — continue to see home price declines, Wahi and Real Property Solutions found. In Hamilton and Vancouver, home values fell four per cent in June, while Toronto declined three per cent. Wahi attributes this to ongoing condo market weakness and, in Hamilton’s case, potentially its exposure to U.S. steel tariffs.

But these price drops may not last.

“Real estate boards in Toronto and Vancouver both reported observing signs of recovery in June, and these have been two of the hardest-hit markets in the country,” Katchen said.

!function(){“use strict”;window.addEventListener(“message”,function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[“datawrapper-height”][t]+”px”;r.style.height=d}}})}();

In other cities, home prices increased.

Ten of 13 major Canadian cities posted annual price gains. Quebec City (+13 per cent), Regina (+10 per cent), and Winnipeg (+10 per cent) led the pack, driven by affordability, demand-supply imbalances and insulation from U.S. tariffs, the report found.

The condo market continues to struggle with values dropping seven per cent year-over-year—one of the largest annual declines since the index launched in 2005. Toronto and Vancouver’s high-rise markets remain in recessionary territory.

Detached and townhouse prices climbed three per cent and two per cent, respectively, while semi-detached homes dipped one per cent year over year.

See the full Home Price Index for June 2025 here.

Lead photo: Ian Muttoo