Home prices in Halifax to rise by end of the year, Royal LePage predicts

Royal LePage says it is raising its national housing price forecast for this year as demand continues to outpace supply in some regions.

The aggregate price of a home in the Halifax Regional Municipality decreased “moderately” by 0.5 per cent year over year to $528,600, in the spring.

By housing type, a single-family home in the region almost stayed at the same cost, at $605,600, while the price of a condo dropped 2.2 per cent to $399,100, in this year’s second quarter.

Royal LePage is forecasting that the aggregate price of a home in Halifax will increase 4.0 per cent by the end of 2026, compared to the same quarter last year.

“A late spring should translate into a more active summer than usual, with July likely bringing more listings – and more buyers – to the market,” Matt Honsberger, broker and owner, Royal LePage Atlantic, said. “Flat rental costs remain a persistent challenge, dampening the urgency for renters to transition into ownership. That said, competition for desirable listings will likely sustain moderate upward pressure on prices as we head into the fall.”

The market in Halifax is being driven mostly by first-time buyers, as out-of-province buyers have pulled back since return-to-office mandates.

“As activity picked up, new listings followed, but a general sense of hesitation has taken hold,” Honsberger explained. “Consumers are not entirely disinterested, but the absence of urgency is keeping inventory well-stocked.”

Across the country

The real estate company now expects the aggregate price of a home in Canada to increase two per cent in the fourth quarter of 2026 to $823,344 compared with the same quarter last year — up from its previous forecast of a one per cent gain.

Quebec City is expected to see the largest year-over-year price growth at eight per cent, followed by the Greater Montreal Area and Winnipeg, each at five per cent. Home prices in Edmonton and Regina are expected to rise four per cent, according to the forecast.

Prices in Canada’s two most expensive markets, the Vancouver and Toronto regions, are expected to fall 3.5 per cent and two per cent, respectively, compared with late 2025.

It said the spring housing market began to find its footing in May following a sluggish start to the year, with momentum carrying into June.

Royal LePage president and CEO Phil Soper said he’s optimistic that the fall market will remain on track, as pent-up demand from buyers and sellers who delayed listing earlier this year continues to build.

“Several regions are now seeing that uptick in momentum carry into summer, as buyers who held back earlier in the year re-enter the market,” said Soper in a news release, as Royal LePage released its second-quarter home price update and market forecast report.

He said that approach has been reinforced by a “persistent backdrop of economic uncertainty” affecting Canadians’ decisions to move. That includes elevated inflation driven by rising energy prices, reflecting hostilities in the Middle East, along with the unpredictable future of Canada’s trade relationship with the United States.

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The Trump administration indicated on July 1 it would not extend the Canada-United States-Mexico Agreement, triggering a period of annual reviews that will run until the agreement’s scheduled expiry in 2036.

“For Canadian consumers, ambiguity surrounding CUSMA is another reason to pause and reassess before making major financial commitments, including the decision to buy or sell a home,” said Soper.

“Even though most are not directly impacted through their employment, we know that trade-related anxiety is enough to weigh on consumer confidence.”

The report noted a shrinking price gap between Canada’s most and least expensive markets. While the aggregate price of a home decreased 4.5 per cent year-over-year in Greater Vancouver and 4.6 per cent in the Greater Toronto Area in the second quarter, limited supply elsewhere in the country has pushed home prices higher nationally.

“Softening home prices in our largest and most costly cities are making these markets more accessible, opening the door for buyers who may have previously been priced out,” Soper said.

“Meanwhile, secondary markets that did not experience drastic pandemic price increases followed by sharp declines, have continued to record steady home price gains. Looking ahead, this could translate into less interprovincial migration than we have become accustomed to this decade.”

This report by The Canadian Press was first published July 14, 2026.