According to the Royal LePage House Price Survey and Market Forecast released on July 15th, 2025, the aggregate1 price of a home in Canada eased upwards modestly in the second quarter of 2025, increasing 0.3 per cent year over year to $826,400. On a quarter-over-quarter basis, the national aggregate home price decreased by 0.4 per cent.

The start of the spring market – typically one of the busiest times of year for home buying and selling – was noticeably subdued in several regions this year, namely in Toronto and Vancouver, two of the country’s largest and most expensive markets. Amid global political and economic uncertainty, many homebuyers continued to take a cautious, wait-and-see approach. The Bank of Canada also held back, maintaining its overnight lending rate at 2.75 per cent during its scheduled April and June announcements, citing the need to “gain more information about both the path forward for U.S. tariffs and their impacts.2 ” Sellers, on the other hand, continue to actively list their homes for sale despite lower than normal activity.

“Homebuyers approached the start of the 2025 spring market with hesitation, dampening what is typically the busiest season on the real estate calendar,” said Phil Soper, president and CEO of Royal LePage. “With trade disputes, a federal election, and international conflicts dominating headlines through the first half of the year, many prospective buyers chose to wait. Yet, market fundamentals remain sound; interest is strong while activity is subdued, reflecting the uncertainty weighing on consumer sentiment. Encouragingly, June’s robust employment report may help rebuild confidence and bring more buyers off the sidelines in the months ahead.”

According to a recent Royal LePage survey, conducted by Burson, 28 per cent of Canadians who currently rent say that, before signing or renewing their current lease, they considered buying a property rather than renting.3 When asked what factors influenced their decision to rent instead, 40 per cent of respondents said they are choosing to wait for property prices to decline; 29 per cent are choosing to wait for interest rates to decrease further; and 28 per cent say they are working towards buying a property, and continuing to rent allows them to save for a sufficient down payment.

Forecast
Royal LePage is 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. The previous forecast has been revised down modestly to reflect slower-than-usual sales activity in Ontario and British Columbia. Nationally, home prices are forecast to see modest appreciation throughout the remainder of the year, with sharper gains expected in the fall.

“Given the backdrop of global economic uncertainty and cautious sentiment at home, we expect steady but uneven progress across regional markets this summer, rather than a broad-based rally. If optimism continues to build and Canadians feel more secure about the economy – and our ability to successfully manage the country’s relationship with the United States – we could see a more confident and active housing market emerge later this year,” concluded Soper.

1 Aggregate prices are calculated using a weighted average of the median values of all housing types collected. Data is provided by RPS Real Property Solutions and includes both resale and new build.

2 Bank of Canada holds key lending rate as uncertainty surrounds global economy, April 2025

3 Waiting in the wings: Renters continue to eye path to home ownership, watching for deeper drops in interest rates and home price declines, June 2025

When it comes to renovating your home, there’s a sweet spot between what adds value and what adds joy. Some projects are exciting, like a home office upgrade, a creative space, or trendy finishes you spotted on Instagram, but they may not always boost resale value. That doesn’t mean they’re not worth doing, but if you’re looking to make smart investments, it helps to know which upgrades boost your home’s value and improve your everyday life.

Take the kitchen, for example. It’s consistently one of the top renovations for resale value in Canada, but it’s also where life unfolds every single day. A thoughtful kitchen upgrade like adding a large island or opening up a closed-off layout, can give you more space to cook, connect, and enjoy mealtimes together, turning a functional room into the heart of the home.

Bathroom upgrades are another high-ROI project that add immediate comfort. From spa-inspired finishes to improved storage, these updates can elevate your routine and make a big impression on potential buyers.

Don’t overlook the basement, either. Finishing a basement gives you additional living space, whether it becomes a cozy media room, home office, guest suite, workout space or playroom. It’s one of the few upgrades that adds usable square footage and versatility at the same time.

And let’s not forget curb appeal. Outdoor upgrades like decks, patios, or professional landscaping not only increase your home’s marketability, but they also encourage more time outside, hosting BBQs, sipping morning coffee, or just enjoying the fresh air.

The goal is to make upgrades that enhance your lifestyle now and pay off in the future. If a project makes your home feel more like you, and adds long-term value in the process, it’s a win-win. With the right upgrades, you really can have the best of both worlds.

Looking for tips and tricks to tackle your next renovation? Reach out to your Realtor ®

We’ve all had one of those moments, caught in a storm, power out, phone dying, and wished we’d stocked up just a little more.

Whether it’s a sudden rainstorm that knocks out power or a cold snap that hits before you’ve winterized the house, weather events seem to be getting more intense, and less predictable. Having a few practical items ready to go can make a frustrating situation feel a lot more manageable.

Most homeowners know to keep the basics stocked: flashlights, bottled water, and a few extra snacks. But it’s the often-overlooked items that can make all the difference. A portable phone charger or power bank helps you stay connected. Backup batteries for essentials like flashlights, smoke detectors, or carbon monoxide alarms are easy to forget, until you need them.

And don’t underestimate the importance of a manual can opener. If the power’s out and your emergency food is canned, you’ll be glad you’ve got one. Stock a few ready-to-eat, non-perishable meals, and don’t forget pet food if you’ve got furry family members.

For warmth and comfort, keep extra blankets, candles, matches or a lighter, and a battery-powered radio on hand. A well-stocked first aid kit and a few days’ worth of any essential medications are also smart to include.

And don’t forget your vehicle. A basic roadside kit can be a lifesaver if you get stuck or stranded during a storm. Keep a small shovel, blanket, flashlight, phone charger, water bottle, and non-perishable snacks in your trunk, just in case. It’s also a good habit to keep your gas tank at least half full, especially as the temperature drops and unexpected delays become more likely.

You don’t need a complicated setup, just a few key items stored where you can access them quickly. A little planning now can save you a lot of stress later.

September always feels like a fresh start, but it can also bring a full calendar. Between back-to-school routines, cooler mornings, and early holiday planning, fall tends to pick up speed fast. It’s also the season where small expenses can quickly snowball, making it the perfect time to get ahead of your household budget.

Start with the essentials: seasonal maintenance. Booking a furnace inspection, cleaning gutters, checking your roof, and sealing windows and doors can prevent major (and expensive) issues in the months ahead.

With cooler weather on the way, it’s worth getting ahead of rising energy costs. Now’s a great time to review your utility usage and make small upgrades like a smart thermostat or energy-efficient light bulbs.

It’s also a good time to adjust your monthly budget to include seasonal expenses, and to review your spending and savings goals for the year, are you on track? If not, there’s still time to make meaningful progress. Max out tax-deductible contributions like RRSPs or charitable donations if you’re in a position to do so. And don’t forget to book final health or dental appointments to use up any remaining benefits before year-end.

And while we’re talking money, now’s the time to start getting ahead of the holidays. Simple steps include making a gift list early, tracking seasonal sales, or setting weekly savings goals. Consider setting a spending limit per person, or using a budgeting app to keep everything organized. Don’t forget to factor in extras like wrapping supplies, host gifts, and holiday travel.

Lastly, if you’ve been considering any home upgrades, focus on the ones that add comfort and value.