The 2025 Royal LePage Market Survey Forecast, published annually, includes year-over-year price forecasts and insights from experts nationally and in ten major markets across the country, as well as a quarter-over-quarter national aggregate home price forecast for 2025.

“After several years of unusual volatility in the real estate market, key indicators point to a return to stability in 2025. The backlog of willing and able buyers continues to grow, and upcoming changes to mortgage lending rules will further enhance Canadians’ borrowing power,” said Phil Soper, president and chief executive officer, Royal LePage. “Most notably, the Bank of Canada’s shift from ‘inflation fighter’ to ‘economy booster’ has taken time to influence buyer behaviour. We saw a marked increase in market activity at the start of the fourth quarter, following the Bank of Canada’s 50-basis-point rate cut. Buyers now believe home prices have hit bottom and are eager to act before competition intensifies.”

Key highlights from the 2025 Market Survey Forecast:

• Royal LePage is forecasting the aggregate price of a home in Canada will increase 6.0% year over year in the fourth quarter of 2025.     
• Nationally, single-family detached and condominium prices are forecasted to increase 7.0% and 3.5%, respectively, year over year in Q4 of 2025. 
• Greater Montreal Area aggregate home price appreciation (6.5%) expected to outpace greater regions of Toronto (5.0%) and Vancouver (4.0%) next year.
• Quebec City is forecast to see the highest gains among all major regions in 2025, with the aggregate home price expected to rise 11.0%, followed by Edmonton and Regina at 9.0%.