Market update September 2026: Buyers hold back, renters hold on

Economic uncertainty is having a noticeable impact on the rental market. In many cities, softer demand has combined with growing supply to slow price growth.

Meanwhile, buyers too have been affected by uncertainty. With borrowing costs still high, many are choosing to rent for longer, balancing out the drop in rental demand.

For property managers, this is a market that rewards patience and adaptability.

• Rentals.ca reports the national average asking rent reached $2,037 in July, up 0.2% on June – the same as the growth from May to June.

• In Ontario, average asking rents went from $2,233 in June to $2,247 in July.

• In the sales market, the Canadian Real Estate Association (CREA) reports an average national home price of $674,819 in July – down 3.1% from June and up 0.2% year over year.

• Ontario reliably continues to have some of the highest average home prices in the country (second only to British Columbia) at $797,486 – down 4.1% from last month’s average.

• According to CREA, home sales volumes edged up 0.5% from June to July.

• The Canada Mortgage and Housing Corporation reports the six-month trend in housing starts was flat in July compared to June, with a slight decrease of 0.5% to 247,377 units.