Economic uncertainty weighs on potential homebuyers, RBC poll says

The real estate market in the GTA saw home sales go up six per cent in May, while the average home price is down 4.6 per cent compared to last year.

TORONTO — A new report says prospective homebuyers see a potential window to strike a deal, but economic uncertainty is weighing on their decision.

Royal Bank of Canada’s latest home ownership poll says that among those who intend to buy within two years, 45 per cent say now is the right time. However, 75 per cent of them say economic uncertainty is making them more cautious.

It also says 72 per cent of those looking to buy within two years believe the uncertainty is the biggest challenge to buying a home, while 67 per cent are worried it will affect their homebuying plans.

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The Canadian economy has struggled in recent months as it continues to adjust to U.S. tariffs and a murky future for the trade agreement with the U.S. and Mexico, while the war in the Middle East sent oil prices soaring.

The RBC poll said rising costs are also cutting into savings with 71 per cent of those who intend to buy within two years saying inflation is causing them to save less for a home.

The survey of 1,753 Canadians aged 18 to 64 was conducted between April 23 and May 3, using Leger’s online panel.

The Canadian Research Insights Council, an industry organization that promotes polling standards, says online surveys cannot be assigned a margin of error because they do not randomly sample the population.

This report by The Canadian Press was first published June 23, 2026.