Jul 7, 2026
Trying to decide when to buy a home is never easy, but many Canadians say today’s market feels especially hard to read.
A new RBC Home Ownership Poll found that 64% of Canadians believe there’s no such thing as the “perfect” time to buy a home. Even so, many prospective buyers aren’t waiting on the sidelines. Among those planning to buy within the next two years, 45% believe now is the right time to make a move.
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“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,” said Janet Boyle, senior vice-president of Home Equity Finance at RBC, in a statement.
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Some buyers seeing opportunities — others feeling cautious
The survey suggests many Canadians are caught between seeing an opening in the market and worrying about what comes next.
Among prospective buyers, 58% believe lower home prices will help them purchase their first or next home, while 54% say lower interest rates are improving affordability.
At the same time, many worry that the window may not stay open for long. More than half (53%) believe home prices could begin rising again before long, while nearly half (49%) expect interest rates to increase later this year.
As expected, current economic uncertainty adds another layer of complexity to the market. Three-quarters (75%) of people planning to buy within the next two years said it’s making them more cautious about purchasing a home, while 72% described it as their biggest obstacle to buying.
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Homebuyers are making bigger financial sacrifices
The survey from RBC also found many prospective buyers are making significant changes to their finances as they work toward homeownership.
Around 69% said they have delayed major purchases, such as buying a vehicle or renovating their home, to save for a down payment. 62% have postponed or scaled back vacations, while 60% said they have overhauled their spending and saving habits.
And some buyers are making even bigger trade-offs. More than half (57%) said they expect to take on a side hustle or second job to help afford a home, while 53% said they plan to use at least some of their retirement savings toward a purchase.
Across all respondents, 78% believe buying a home requires greater financial sacrifices than it did for previous generations.
Those findings come as many households continue to face higher costs for housing, groceries and other essentials, leaving much less room to save.
Confidence remains a challenge
While some buyers see today’s market as an opportunity, overall confidence seems to remain relatively low.
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Fewer than half (49%) of prospective buyers said they feel confident making homebuying decisions in the current market, and only 56% believe they have the information they need to make smart decisions.
And that uncertainty isn’t just limited to first-time buyers. Among homeowners expecting to renew their mortgage within the next two years, only 44% said they feel confident making mortgage decisions, even though most expect they’ll be able to absorb higher payments if rates increase.
The poll also found that four in five prospective buyers and homeowners approaching renewal believe expert advice is important when making major housing decisions.
For anyone considering a home purchase in today’s market, the latest survey highlights the reality that the perfect moment may never arrive. Instead, many Canadians are weighing a mix of lower prices, borrowing costs, personal finances and economic uncertainty to decide when the timing feels right for them.
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Steven Brennan is a freelance finance writer based in Vancouver, BC. He holds a BA and an MA from Maynooth University, Ireland. His work regularly appears at Canadian Mortgage Trends, Lowest Rates, Loans Canada and other Canadian and US brands, while also working as a ghostwriter for financial influencers.
