RPS-Wahi House Price Index September 2025 While the RPS-Wahi House Price Index was unchanged on a year-over-year basis in September, select markets are beginning to see price growth accelerate. Most Recent Report Supply Imbalances and Affordability Fuel Diverging Canadian Home Price Trends Oct 16, 2025 While the RPS-Wahi House Price Index was unchanged on a year-over-year basis in September at the national level, select markets are beginning to see price growth accelerate. Read now 2025 September Key Insights National trends: detached home prices were up 1% year-over-year, while row/townhouse prices were flat. Semi-detached home prices registered a 2% decline, and condo prices dropped 6% compared to the previous September. 10 of 13 major Canadian cities posted annual price gains. Quebec City (+13%), Winnipeg (+11%) and Regina (+9%) led the pack, driven by a demand-supply imbalance and, in the case of Winnipeg and Regina, an increase in population growth that’s fueling persistent undersupply. Halifax (+5%) also saw price acceleration compared to August. Toronto and Vancouver continued to decline by 4% amid condo market weakness, rising inventory and affordability challenges, and Hamilton home values fell 3% — potentially due to its exposure to U.S. steel tariffs. Calgary and Edmonton house prices remain in positive territory — up 3% and 5%, respectively — though the pace of appreciation has cooled from double-digit highs earlier this year due to increased housing starts and supply growth. Previous House Price Index Reports Canadian Housing Market Holds Steady this Summer with Notable Exceptions view report Canadian Home Prices Flatten in July as Single-Family Homes Join Market Slowdown view report Canadian Home Prices Stabilize as Major Markets Remain in a Slump view report Canadian Home Prices Levelling off as Condo Market Matches 20-Year Low view report explore more reports Methodology The RPS-Wahi Home Price Index is the most comprehensive source for house price data in Canada and includes the median house price dollar values and extensive additional data by property type from a national to the local level. Long-Term Price Trends The RPS-Wahi House Price Index is based on the latest monthly actual home values in 1,000 towns and cities across the country. The index shows how property values have changed over time, relative to a base period (Jan. 2005 = 100). An HPI value of 300 means property values have tripled (on a smoothed, adjusted basis) since 2005.h The HPI does not indicate the actual price of a property. It demonstrates how prices have moved relative to the base period. Market Momentum A rising index indicates an upward price trend. A falling index suggests price softening or correction. Since the HPI smooths noise and filters out outliers, it gives a more stable, reliable picture of pricing trends than monthly medians.e The HPI is based on an up-to-six-month rolling average, so it does not reflect short-term volatility, such as one-off surges in prices from luxury sales. For more information, the complete methodology is available here. News Media Contact Kristin Doucet Managing Editor Tel: 877-207-4273E-mail: pr@wahi.com
