What to know
- Sixty-three per cent of Canadians surveyed said they would relocate to find a larger or more suitable home.
- Sixty-five per cent said they would make at least one compromise to afford a home that better fits their needs.
- Among those willing to relocate, 47 per cent would move up to an hour away from the city centre, while 31 per cent would go even farther.
- Experts say high borrowing costs and uncertainty around employment and the economy are keeping many buyers on the sidelines.
- REMAX Canada executives say pent-up demand could return if borrowing costs stabilize and consumer confidence improves.
Amid ongoing uncertainty in the real estate market, a new study is revealing that most Canadians would be willing to relocate to afford a larger or more suitable home, with some even willing to move away from the city centres.
The REMAX Canada 2026 Fall Housing Market Outlook is revealing that most Canadians are now willing to make compromises when it comes to finding a home that best fits their needs.
According to the study, 65 per cent of the survey respondents said they’d be willing to make at least one compromise in order to afford a larger or more suitable home and 63 per cent said they’d relocate for it.
Among those who said they would relocate, 47 per cent said they would move up to an hour away from a city centre and 31 per cent said they’d go even farther away.
“There’s been a lot of talk over the last little while in terms of how important home ownership is to Canadians, and I think this report just really emphasizes that home ownership is near and dear to the hearts of Canadians. It’s part of our culture,” Don Kottick, President of REMAX Canada told Now Toronto.
“The extent that people will go to try to get into the market, even though affordability is still a challenge. [It] is still a telling sign about the importance of home ownership to Canadians.”
Prices are down, but buyers are not jumping in
Although housing affordability remains a significant challenge for many Canadians, both Kottick and GTA-based broker and executive vice president at Remax, Justin Risi, say that many buyers are still reluctant to jump in.
After a boom in the market around 2021–2022, sales have been significantly dropping across the country in the past year. In response to this decrease in sales, prices have also been coming down significantly.
Over the past year, sales have been significantly dropping below $1 million twice in 2026, after remaining above that for over five years. Despite plenty of inventory sitting in the market and buyers having more room to negotiate, many are still refraining from buying, not because they are uninterested, but because they might feel as it isn’t the right time to do so.
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“The challenge is that borrowing costs remain relatively still a little bit too high for most people, and that’s limiting how much of that improved affordability is actually translating into transactions,” Risi explained.
“Another major factor is obviously consumer confidence right across the board in every industry… Many of the buyers are still sitting on the sidelines because they’re uncertain about not only interest rates but also employment and the overall economy.”
Would relocating in fact help?
According to Risi, the national trend of buyers willing to reallocate to afford a larger home is also reflected in Ontario and the GTA, with more people being willing to move away from the city centre to find more suitable options they can afford.
“That was kind of similar to what happened after COVID, where people, for different reasons, found that they were more inclined to move out of their comfort zone or their so-called desired areas because we all want what we want, but sometimes you can’t afford what you want in certain areas,” he explained.
In general, the broker said areas away from the centres tend to be more affordable. However, it all depends on what buyers are looking for and other factors they might factor in, such as their place of employment.
“Retirees might downsize, and they’ll move out an hour or two or they can easily make those adjustments. But the starting family, you have to be able to have a job. It’s more than just a house,” he added.
Will the market change in the fall?
Although buyers are remaining reluctant, both experts said there is a chance it might pick up into 2027, as many buyers are still interested.
“I’m optimistic. I think once we get some stability in the borrowing costs, but most importantly, we’re hoping consumers can regain some confidence in the economy… I think a lot of that pent up demand is going to come back into the market,” Risi said.
However, they emphasize that market conditions depend on whether buyers feel confident enough to jump in.
“People are continuing to wait and see, right? So they’re waiting to see some of these bigger issues resolved,” Kottick said.
“But once again, until the macro issues get resolved, we’re not going to see the market take off in any stretch of the imagination.”
