Affordability pressures are reshaping buyer behaviour across Canada, with two-thirds willing to relocate or cut spending
Canadians are not abandoning the dream of homeownership but they are rewriting the path to get there.
New data from REMAX Canada's Fall 2026 Canadian Housing Market Outlook shows 65 per cent of survey respondents would make at least one significant compromise, whether reconsidering their preferred location, property type, or financial habits, to secure a larger or more suitable home.
The findings arrive as sales across the country continue to soften. According to REMAX brokers and agents surveyed for the report, residential transactions declined year over year in 81 per cent of markets analyzed between January 1 and July 31, 2026, while average prices rose in 56 per cent of markets - a divergence that reflects the uneven terrain buyers are navigating from coast to coast.
"There's a difference between compromising and settling," said Don Kottick, president of REMAX Canada, in Toronto. "Rather than giving up on homeownership, Canadians are making different choices about how to get there."
Location flexibility is reshaping search patterns
The sharpest shift in buyer behaviour is geographic. Sixty-three per cent of survey respondents said they would relocate to a home that better fits their needs, including 47 per cent who would move up to an hour away from their current community and a further 16 per cent who would travel even farther afield.
Thirty-one per cent said they would accept a home farther from a city centre, while 21 per cent would move away from retail and dining amenities. A further 20 per cent would purchase an older property or one requiring renovations.
For financial advisors working with clients on household financial planning, these shifts carry real planning implications. Longer commutes, rural property maintenance costs and older home renovations all affect a client's overall financial picture and should be factored into cash-flow projections alongside mortgage costs.
Canada's housing market entered 2026 expecting a slow, gradual recovery, with Royal LePage projecting the national aggregate home price would edge up approximately one per cent year over year to $823,016 by the end of the year, a modest trajectory that has done little to ease the affordability calculus for would-be buyers, particularly in expensive urban centres.
Financial trade-offs reach deep into household budgets
Beyond geography, Canadians are making harder calls about their finances. Forty-one per cent say they would cut discretionary spending such as travel, dining out, entertainment, to free up mortgage capacity. Twenty-four per cent would extend their amortisation period, a choice that lowers monthly payments but increases total interest paid over the life of the mortgage.
Twenty per cent would accept financial support from family members, 17 per cent would take on additional employment or a second income source, and another 17 per cent would delay retirement savings or other long-term financial goals.
That last figure should be a prompt for financial planners. A client who pauses RRSP contributions or delays retirement investing in order to qualify for a mortgage may be trading a short-term gain for a long-term shortfall. The trade-off deserves a structured conversation about the total cost of ownership relative to long-term financial priorities not simply a calculation of whether a client can qualify.
Despite the willingness to flex, some priorities remain immovable. Affordability is still the top consideration in choosing where to buy, cited by 60 per cent of respondents, followed by neighbourhood safety at 47 per cent.
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A wider buyers' market is emerging nationally
For clients who are in a position to act, market conditions in many parts of Canada are now more favourable than they have been in years. REMAX brokers and agents reported that 32 per cent of markets analyzed are expected to sit firmly in buyers' territory this fall, up from just 15.2 per cent a year earlier.
The national sales forecast has also been revised modestly downward, with REMAX Canada now projecting that 2026 sales will finish approximately two per cent below 2025 levels; a softer outcome than originally anticipated heading into the year. That softer backdrop, however, is precisely what is giving deliberate buyers more time and leverage.
"The market has not become easy for buyers, but in many regions, it is allowing for a more deliberate purchasing process," said Kottick. "More time and choice can help buyers compare their options and understand where their budget goes further without feeling like they have to compromise."
Regional divergence remains sharp
The national picture masks considerable variation. In Ontario, the Greater Toronto Area remains squarely in buyers' territory, with average residential prices down 5.1 per cent year over year. Kitchener-Waterloo and Ottawa are similarly buyer-friendly. Conditions look markedly different in parts of Northern Ontario: Thunder Bay posted average price growth of 10.5 per cent year over year, supported by tight inventory.
In Western Canada, Greater Vancouver remains buyer-favourable as weak demand persists, while Calgary is split - balanced in detached and semi-detached segments, but firmly in buyers' territory for condominiums. Edmonton has shifted from seller- to balanced-market conditions, while Saskatoon continues to favour sellers.
Atlantic Canada is posting relative price resilience. Average residential prices increased year over year across every Atlantic market analyzed by REMAX, even as sales declined — a dynamic worth noting for clients considering a geographic move for affordability reasons. Meanwhile, Montreal remains seller-favourable overall and is expected to hold that posture through the end of 2026.
The REMAX survey was conducted online by Leger between July 17 and 19, 2026, with 1,532 Canadians aged 18 and older, weighted to be nationally representative. For comparison purposes, a probability sample of the same size would yield a margin of error of no greater than ±2.5 percentage points, 19 times out of 20.
For wealth managers whose clients are navigating purchase decisions this fall, the clearest takeaway from the data is that buyer willingness to act is real - but it comes with trade-offs that extend well beyond the mortgage itself.
