A majority of Canadians believe there is no perfect time to buy a home as economic uncertainty, rising living costs and concerns about housing affordability continue to shape purchasing decisions, according to a new poll released by RBC.
The financial institution's 2026 Home Ownership Poll found 64 per cent of Canadians believe the ideal time to purchase a home does not exist, while prospective buyers are weighing market opportunities against financial uncertainty and higher household costs.
The survey suggests Canadians remain divided on the state of the housing market as they head into the second half of 2026, with differing views depending on region and homebuying plans. While some respondents see current conditions as favourable for buyers, many also say uncertainty about the economy is making it more difficult to decide whether to enter the market or renew an existing mortgage.
Janet Boyle
“Rising costs and shifting economic conditions have made every step of the homebuying journey feel higher-stakes, and the pressure of whether to act is weighing on Canadians,” said Janet Boyle, senior vice-president of home equity finance at RBC. “While the barriers to home ownership have always existed, how they look has shifted. What hasn’t changed is the importance of knowing what’s right for you, and it starts with having an honest conversation with an expert who knows your full financial picture.”
The poll found Canadians are split on whether current housing conditions favour buyers or sellers. Nationally, 27 per cent of respondents described the market as a buyer's market, while 36 per cent viewed it as a seller's market. Respondents in Quebec and Atlantic Canada were the most likely to characterize conditions as favouring sellers, while those in British Columbia and Ontario were more likely to see a buyer's market.
Among Canadians planning to purchase a home within the next two years, 45 per cent said now is the right time to buy, compared with 27 per cent of all respondents. The survey found 58 per cent of prospective buyers believe lower home prices will allow them to purchase a home, while 54 per cent cited lower interest rates.
More than half, or 53 per cent, said they believe there will be only a limited period before home prices begin rising again, while 49 per cent expect interest rates to increase this year.
The survey also found first-time buyers remain optimistic about government measures aimed at improving affordability. Nearly two-thirds, or 63 per cent, said the First-Time Home Buyer GST/HST Rebate would help them purchase a home sooner, while 52 per cent believe current market conditions provide an opportunity for first-time buyers to enter the market.
At the same time, economic uncertainty remains a significant concern for prospective buyers.
Among respondents planning to purchase a home within two years, 75 per cent said economic uncertainty is making them more cautious about buying, 72 per cent described it as the biggest challenge to purchasing a home, and 67 per cent said they are concerned it could affect their homebuying plans.
“Many of my clients want to buy a home, but economic uncertainty is making it harder to feel confident about timing,” said Brad Evjen, senior mortgage specialist at RBC. “Our focus is to help people understand their options and what they can control, to put a plan into place and to feel as confident as possible when the right opportunity presents itself.”
The poll also found rising living costs are affecting buyers' ability to save for a home. Among those intending to buy within two years, 71 per cent said inflation is reducing the amount they are able to save toward a purchase.
Financial sacrifices reported by prospective buyers have increased since the beginning of the year. The survey found 69 per cent have delayed major purchases, up from 54 per cent in January, while 62 per cent have postponed or scaled back vacations, compared with 55 per cent earlier in the year.
Sixty per cent said they have significantly changed their spending and saving habits, up from 55 per cent in January, while 53 per cent said they plan to use some retirement savings toward buying a home, compared with 49 per cent at the start of the year.
Across all respondents, 78 per cent said home ownership requires greater financial sacrifices today than it did for previous generations, while 74 per cent believe most first-time buyers will experience some level of financial shock when purchasing a home.
The poll also points to uncertainty among homeowners preparing to renew their mortgages.
Among Canadians expecting to renew within the next two years, 44 per cent said they feel confident making mortgage decisions. While 65 per cent believe their household could absorb a potential increase in interest rates, 18 per cent said they have not considered what they could afford if borrowing costs rise.
Among prospective buyers, fewer than half, or 49 per cent, said they feel confident making homebuying decisions in today's market, while 56 per cent believe they have the information they need.
The survey found demand for professional advice remains high. Four in five prospective buyers and homeowners approaching mortgage renewal, or 82 per cent, said expert guidance is essential when making major home ownership decisions.
“Today, Canadians are being asked to make one of the largest financial decisions of their lives with a lot of unknowns, and it’s normal to feel overwhelmed by it,” adds Boyle. “But no one should have to navigate that alone. The right information, the right tools and a plan built around your goals can take a lot of that uncertainty off the table.”