When is the Perfect Time to Buy a Home? 64% of Canadians Say It Doesn't Exist: RBC Home Ownership Poll

Executive Summary

• RBC’s 2026 Home Ownership Poll reveals that 64% of Canadians believe there is no perfect time to buy a home, driven by persistent economic uncertainty and rising living costs.
• Prospective buyers within two years see a window of opportunity (45% say now is the right time), but 75% report that economic uncertainty is making them more cautious and is viewed as the biggest challenge to purchasing.
• Financial trade-offs are intensifying, with 71% of prospective buyers citing inflation as a barrier to saving, while significant portions delay major purchases, cut back on vacations, or redirect retirement funds.
• Market confidence remains low, with only 49% of prospective buyers feeling confident in their decisions and 82% emphasizing the critical need for expert financial guidance.

Key Details

• Poll Methodology: Online survey of 1,753 Canadians aged 18–64, conducted April 23–May 3, 2026, via Leger’s online panel.
• Market Perception: 36% nationally view the market as a seller’s market vs. 27% as a buyer’s market; Quebec (57%) and Atlantic Canada (52%) lean seller’s, while B.C. (39%) and Ontario (38%) lean buyer’s.
• Timing Sentiment: 45% of prospective buyers (within 2 years) believe now is the right time to purchase; 53% fear a small window before prices rise again, and 49% expect interest rates to climb this year.
• Economic Uncertainty Impact: 75% of prospective buyers report increased caution due to uncertainty; 72% cite it as the primary challenge to buying; 67% worry it will negatively impact their homebuying plans.
• Inflation & Savings Pressure: 71% of prospective buyers report inflation is reducing their home savings; 79% say rising costs make saving harder overall.
• Financial Trade-offs: 69% delaying major purchases, 62% postponing/scale-back vacations, 60% overhauling spending & saving habits, and 53% redirecting retirement savings toward home purchases.
• Confidence & Advisory Needs: Only 49% of prospective buyers feel confident making decisions in today’s market; 56% feel they have sufficient information; 82% state expert advice is essential.
• Mortgage Renewal Outlook: 44% of homeowners renewing within two years feel confident; 65% believe their household could absorb a rate increase, but 18% have not modeled affordability in a rising rate scenario.
• Generational Sacrifice: 83% of prospective buyers agree home ownership requires more sacrifices today than for previous generations; 74% expect most buyers to experience financial shock upon purchasing.

Notable Quotes

• "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," — Janet Boyle, Senior Vice President of Home Equity Finance, RBC
• "Many of my clients want to buy a home, but economic uncertainty is making it harder to feel confident about timing. 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." — Brad Evjen, Senior Mortgage Specialist, RBC
• "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... But no one should have to navigate that alone." — Janet Boyle, Senior Vice President of Home Equity Finance, RBC