Q2 RE Market Forecasts and Summer 2026.

Quebec’s housing market on the path to stabilization

A balanced market, driven by buyers’ restraint and financial discipline

Second quarter highlights:

• In the second quarter of 2026, the aggregate price of a home in Greater Montreal rose 4.9% year over year to $650,500.

• Quebec City’s record performance begins to cool; region posts quarter-over-quarter price decline for the first time in more than three years.

• For the summer period, Royal LePage^® anticipates further stabilization and a slower pace, with buyers favouring turnkey properties while exercising great caution as fall approaches.

MONTREAL, Quebec, July 14, 2026 – According to the latest results of the Royal LePage House Price Survey and Market Forecast released today, Quebec’s housing market ended the second quarter of 2026 with contrasting trends across regions, ranging from sustained strength to clear signs of a slowdown. Although aggregate home prices continue to show positive year-over-year growth across all major centres, quarterly figures reveal a loss of momentum in certain regions. This trend is marked by slight declines in property values in areas on the outskirts of Greater Montreal, signalling the return to traditional seasonal cycles and a decrease in the overheating that characterized recent years.

“The second quarter of 2026 confirms the start of a gradual stabilization of the real estate market in Quebec,” said Dominic St-Pierre, executive vice president of business development, Royal LePage. “Although demand has ensured prices continue to rise on a year-over-year basis, buyers’ financial caution is quietly ushering in a transition towards balanced conditions. This is particularly evident in the Quebec City market, which had previously posted price gains every quarter over the past several years.”

The aggregate price^[1] of a property in the province of Quebec increased 3.8% in the second quarter of 2026 to reach $487,500 compared to the same period the previous year. On a quarterly basis, the aggregate price in the province recorded an increase of 2.9%. When broken out by housing type, the median price of a single-family detached home in Quebec climbed 3.7% year over year to $524,900, while that of a standard condominium recorded an increase of 2.2% to reach $407,700 during the same period.

“This stabilization of the market is prompting buyers to replace a sense of urgency with a calculated decision-making process. Consequently, during the second quarter, we observed a decline in multiple-offer scenarios, as well as an increase in the number of withdrawals following inspections. Taking a cautious approach, buyers are steering clear of impulse purchases and focusing on turnkey properties, preferring to pay a premium rather than face the unpredictability and cost of major renovations,” added St-Pierre.

Nationally, the aggregate price of a property decreased 1.4% year over year in the second quarter of 2026, settling at $814,900. In the country’s major markets, the aggregate price in the greater regions of Toronto and Vancouver recorded decreases of 4.6% and 4.5% respectively, yet showed signs of stabilization on a quarterly basis.

Outlook for the 2026 summer market

Looking ahead to the summer market, Royal LePage anticipates activity will continue to stabilize overall. The market is expected to slow down somewhat, providing a much-needed respite following the frenzied pace of recent years. Prices will generally hold steady or rise moderately, although slight downward corrections are anticipated in the short term for the Montreal condominium market.

“The approaching fall market, however, calls for vigilance. At a local level, the upcoming provincial elections and budget cuts in the civil service have prompted a prudent revision of the Quebec City growth forecasts for the end of 2026. Despite these factors, the scarcity of supply will continue to firmly preserve home values in Quebec.”

Royal LePage forecasts that the aggregate price of a property in the province of Quebec will increase 7.0% in the fourth quarter of 2026, compared to the same quarter of the previous year.