The dream of homeownership isn’t going away among Canadians.
The latest data from RBC’s Spring Homeownership Poll suggests the desire to own a home is actually on the rise. The findings show 67% of Canadians have always dreamed of buying a home, up 5% compared to last year. Four-in-five (80%) Canadians also believe purchasing a home is one of life’s biggest financial milestones, too.
“Despite a complex and uncertain market, Canadians still aspire to homeownership and the perception of financial independence that comes with it,” said Janet Boyle, Senior Vice President of Home Equity Finance, RBC. “What’s changed is that many buyers’ mindsets have shifted from the fear of missing out to concern about making the right move at the right time.”
And that time may be fast approaching, if not now, according to the latest data from the Canadian Real Estate Association (CREA). In its March release, CREA said both national home sales and prices were softer this year compared to last year.
“2026 is still ultimately expected to be a story about pent-up first-time buyer demand finally seeing a chance to enter the market,” said CREA Senior Economist Shaun Cathcart.
So, Canadians still aspire to own a home and it appears the conditions are about as favourable as can be, all things considered, for first-time buyers.
Let’s take a deeper look into the RBC poll’s data to get a better understanding of what Canadians are feeling as we head into what’s typically the busiest time of the year for real estate.
How are Canadians feeling about homeownership heading into 2026
The poll surveyed 1,719 Canadians between Jan. 7 and Jan. 25 using Leger’s online panel, asking for their overall feelings about homeownership. CREA’s past-Chair (2025-2026) Valerie Paquin said she wasn’t surprised to hear about its findings.
“I’m really not surprised at the high percentage of Canadians dreaming of homeownership,” said Paquin. “We’ve been polling Canadians regularly for many years and the message is always clear: Canadians value homeownership. REALTORS® across Canada are committed to helping Canadians achieve their homeownership dreams, both through advocacy at all levels of
government, and as a valued resource to help people find a home that meets their needs.”
However, these days between economic and geopolitical uncertainty, not to mention the rising costs of everything from groceries to gas, Canadians are increasingly worried about their financial future.
The poll shows 66% of first-time home buyers (defined as wanting to buy a home within the next two years) worry about whether it’s the right time to buy and 63% are worried about making the wrong decision.
What would you do to become a homeowner?
Most Canadians say they would do anything to buy a home. We won’t go into what “anything” means, but here are some interesting sacrifices they are willing to make:
• 46% said they expect to live with their parents longer;
• 42% said they are delaying having children;
• 64% said they will need a side hustle or second job to pay for a home.
Yet, when it comes to understanding how much home they can afford, the poll shows there’s a gap. Mortgage knowledge remains a barrier with 64% of people responding they don’t know how much home they can afford or what’s required for a mortgage approval. On top of that, 57% said they are unsure of where to even start.
“Working with a mortgage advisor can help reduce uncertainty and provide the guidance and clarity Canadians need to navigate today’s market and get closer to their home ownership goals,” Boyle said.
What are Canadians doing to become first-time homeowners?
At least most Canadians have some sort of a plan in place. The poll shows 71% of potential first-time home buyers have savings for a home already. The average amount Canadians have saved for a down payment (not factoring an answer of $0) is $110,339, with 70% of this cohort planning on using the First Home Savings Account (FHSA).
Launched in 2023, the FHSA is one of the most powerful tools first-time home buyers have in their arsenal when it comes to saving for a home. It enables first-time home buyers to save up to $8,000 per year, tax-free, up to a lifetime maximum of $40,000. When used to purchase a home, the FHSA combines the benefits of an RRSP, where you get an upfront tax deduction, and a TFSA, where you pay no tax on investment gains when you withdraw the money.
Despite the report showing the average first-time home buyer has a decent sized nest egg, 65% responded that they feel ready to buy, but their finances suggest otherwise.
“While you can’t time the market, you can make educated decisions,” said Brad Evjen, Senior Mortgage Specialist at RBC. “Considering cash flow, debt management strategies and future goals all factor into buying or owning a home. Having access to the right tools, expert advice and mortgage solutions can make a real difference in helping buyers feel prepared and confident to navigate the homebuying experience in a way that suits them.”
What are current homeowners thinking?
For those on the cusp of a mortgage renewal, the study finds 59% are worried about covering the expenses of homeownership, and 58% of people are worried about making the wrong decision when it comes to renewing their mortgage within the next two years.
Most Canadians wanting to move on from their starter home are considering moving to the suburbs or a rural area, with 75% of them saying such a move would make sense.
How do Canadians view the current real estate landscape?
As we always say, all real estate markets are local. What’s happening in Toronto is not happening in Regina, so it’s always best to consult with a local REALTOR® in the area you want to buy. Certain regions of Canada are experiencing buyers’ markets, while others are experiencing sellers’ markets, so it’s interesting to note where Canadians see the national market.
And the split is narrowing.
When it comes to market conditions, 33% of Canadians view it as a sellers’ market, down from 46% in 2025. On the flip side, 27% of people see it as a buyers’ market, up from 17% in 2025.
Looking for advice?
If you access trusted homebuying advice and financial education to make more confident home ownership decisions through the new partnership between REALTOR.ca and RBC, or any other financial institution of your choosing, remember that a professional REALTOR® is always ready to help you explore your options — whether you’re a first-time home buyer or looking to renew.
— REALTOR.ca