Despite prolonged economic uncertainty and North American trade tensions, Canadian millennials appear to be as set on purchasing homes in 2026 as they were last year, according to Wahi’s third annual Homebuyer Intentions Survey.
According to the survey, one-in-four millennials (25 per cent) say they will probably purchase a home this year (23 per cent last year). Meanwhile, overall homebuying intentions across all cohorts aged 18 and up held steady at 17 per cent.
“When you consider how concerns over tariffs, job security, and affordability have kept some homebuyers on the sidelines over the past year, it’s somewhat surprising to see unwavering homebuying interest from millennials,” says Wahi Economist Ryan McLaughlin. “It’s also encouraging to see that even against a more challenging economic backdrop, overall homebuying intentions don’t seem to have eroded.”
Gen Z
Homebuying interest from Gen Z was also elevated compared to other cohorts but still short of millennials. Some 15 per cent of Gen Z indicated having short-term homebuying plans (20 per cent last year). “Millennials are further along in their careers and are therefore likely better able to weather the effects of economic uncertainty than their Gen Z peers,” McLaughlin points out.
Gen X & Baby Boomers
Gen X homebuying intentions were unchanged (18 per cent), while 10 per cent of baby boomers say they may purchase property this year (8 per cent a year ago). “The homebuying plans of older Canadians are typically less exposed to swings in the real estate market, as many have paid down mortgages either substantially or entirely on existing properties,” McLaughlin explains.
British Columbia, Ontario, and Alberta are the provinces with the highest cost of living in the country, according to recent analysis from Statistics Canada. These provinces also had among the largest shares of Canadians who expressed strong homebuying intentions.
Those residing in BC were most open to homebuying this year, with 20 per cent saying they are probably planning a purchase. “BC may be one of Canada’s most expensive markets, but home prices in the province have been falling. This might encourage some sales activity as buyers attempt to enter the market this year before it rebounds,” says McLaughlin. In the previous annual survey, 23 per cent of BC residents planned to buy a home in 2025.
Some 17 per cent of Albertan residents are seriously considering a property purchase this year, the same as last year. Although the cost of living is relatively high in Alberta, its major housing markets maintain an affordability edge over many other cities.
Homebuying intentions in Alberta matched those in Atlantic Canada, another region known for affordability. In Ontario, which like BC is another expensive market where real estate values are correcting, 16 per cent say they are considering buying a home in the next 12 months. This is comparable to 2025.
Cloudy Economic Outlook
While homebuying intentions have been largely consistent over the past two years, there are signs that a cloudy economic outlook is weighing on some homebuyer hopefuls.
In fact, 29 per cent of Canadians who intend to buy a home this year say uncertain finances might stop them from moving forward with a purchase this year.
However, despite a focus on personal finances, friendlier borrowing conditions — thanks to four Bank of Canada rate cuts last year appear to have prospective buyers less worried about the mortgage market in general.
Of all Canadians regardless of homebuying plans, 12 per cent are unsure whether they can obtain a workable mortgage this year, down from 19 per cent in 2025.
Wait-and-Watch on Interest Rates
Some 30 per cent of like 2026 homebuyers say they may wait to see what happens to interest rates this year, compared to 38 per cent in Wahi’s previous annual Homebuyer Intentions Survey.
The biggest potential barrier was once again related to affordability, as 52 per cent of those planning to purchase property this year say they could be held back while waiting to see what happens with home prices. These results mirror 2025’s findings.
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