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The great housing adaptation – Canadians are adapting, not abandoning, homeownership goals

New study by CENTURY 21 Canada and Ipsos finds homeownership remains deeply important, especially among younger Canadians and first-time buyers

Vancouver, BC (November 3, 2026) – Homeownership remains a powerful goal for Canadians – 79 per cent say owning a home is important to them, and 73 per cent are willing to make compromises to achieve it, according to a new Ipsos study conducted for CENTURY 21 Canada.

70 per cent of current renters say they dream of home ownership – with many optimistic recent price declines will help them get there. The proportion of Canadians who say they are likely to buy a home in next year has surged to 23 per cent from 19 per cent in the spring – rising to almost a third of younger Canadians. 44 per cent of those who say they are likely to buy in the next year report recent price declines have made them more optimistic, and 55 per cent would be first-time buyers. On average, new buyers expect to invest $21,000 less in a first home than they did in the spring.

“The desire to own a home remains remarkably strong across Canada,” says Todd Shyiak, Executive Vice President of CENTURY 21 Canada. “What is changing is how people expect to get there. Canadians are still focused on homeownership, with many adapting their expectations to reflect the realities of today’s market. With first-time buyers representing more than half of those likely to buy, it’s encouraging to see a new generation working toward a home of their own.”

Potential buyers are willing to adapt by considering a smaller starter homes, walkable or transit-friendly neighbourhoods, fixer-uppers, buying in smaller communities with lower real estate prices, or co-buying with family and friends.

“Even with persistent affordability challenges, the study shows homeownership continues to represent stability and financial security for many Canadians,” says Sean Simpson, Senior Vice President of Ipsos Public Affairs. “The story is not that Canadians have stopped wanting to own. It is that many are reassessing what they can buy and what they are willing to adjust in order to get into the market.”

Housing analyst Ben Rabidoux, founder of Edge Realty Analytics, which provides housing and economic research to real estate and mortgage professionals, offers a longer-term perspective on how we could be entering a new phase of the housing market cycle particularly in Toronto and Vancouver.

“Unlike stock market bottoms which are often sudden, violent events marked by capitulation and a sharp reversal in sentiment, major housing cycle bottoms tend to be drawn-out, multi-year processes,” he writes in his commentary. “The evidence has shown in recent months that the housing recovery will be fueled by first-time buyers.”

Study highlights:

Homeownership remains important:

• 79 per cent of Canadians say owning a home is important to them.
• 73 per cent say they are willing to make compromises in order to realize their dream of homeownership.
• Among renters, 59 per cent say they will delay buying a home to save longer but remain confident they will get there.
• 70 per cent of renters say they dream of owning a home someday.
• Among Canadians who say homeownership is important, 27 per cent rank having a place they can call their own as their most important reason, followed by financial security at 16 per cent and protection from rent increases at 10 per cent.

Buyer interest is improving:

• 23 per cent of Canadians say they are very or somewhat likely to buy a home within the next year, up from 19 per cent in Spring 2026.
• Among Canadians aged 18 to 34, 32 per cent say they are likely to buy within the next year.
• 55 per cent of likely buyers say this would be their first home.
• Likely buyers report an average anticipated purchase price of $655,725, down $21,000 from the spring survey.

Canadians are adapting their expectations:

• Only 40 per cent of Canadians say they are currently living in or very close to their ideal housing situation, down five points from the spring.
• Affordability remains the top barrier among Canadians not living in their ideal home, cited by 57 per cent.
• Among Canadians not living in their ideal home, 29 per cent say they have adjusted what they are looking for and are willing to make compromises.
• Among current non-homeowners, 30 per cent would consider a smaller starter home, 22 per cent a smaller home in a walkable or transit-friendly area, and 21 per cent a fixer-upper.

Price changes and market optimism:

• Among Canadians likely to buy within the next year, 44 per cent say recent price declines have made them more optimistic that homeownership is possible.
• 41 per cent say they are still waiting to see whether prices fall further.
• 14 per cent say that even with price reductions, they still fear what they want is not attainable.

Ipsos conducted the survey for CENTURY 21 Canada online between October 2 and 12, 2026, via the Ipsos I-Say Panel. A representative sample of 2,295 Canadians ages 18+ was interviewed. The data was weighted according to Statistics Canada census data to reflect the population of Canada. Ipsos reports a credibility interval of +/- 2.5 percentage points for the overall sample. Credibility intervals are wider for smaller subsets, including regions and likely buyers.

-ENDS-

For more information please contact:
Shawn Hall

Century 21 Canada
Phone: (604) 619-7913
Email: shawn@apogeepr.ca

About CENTURY 21 Canada®
CENTURY 21 Canada Limited Partnership (c21.ca) is a real estate master franchisor with complete rights to the CENTURY 21® brand in Canada.

The CENTURY 21 System is one of the world’s largest and most recognized residential real estate franchise sales organization with approximately 11,000 independently owned and operated franchised real estate offices worldwide and over 125,000 sales professionals. CENTURY 21 provides comprehensive technology, marketing, training, management, and administrative support for its members in 79 countries and territories worldwide.