Despite an uncertain market, Canadians still want a home to call their own: RBC Spring Home Ownership Poll
- 80% believe buying a home is one of life's biggest financial milestones
- 58% of Canadians nearing renewal worry about making the wrong decision
- RBC offers tailored advice to navigate affordability, timing and renewals
TORONTO, March 17, 2026 /CNW/ - Even in a challenging market, Canadians are holding tight to their dream of home ownership, viewing it as far more than just a place to live. According to RBC's Spring Home Ownership Poll, 67% of Canadians say they have always dreamed of buying a home (up from 62% in 2025) and 32% expect to purchase a house or condo within the next two years, holding steady year-over-year. Four-in-five (80%) also believe purchasing a home is one of life's biggest financial milestones and a majority view owning a home as a sign of financial independence (73%) or essential to their future (62%).
"Despite a complex and uncertain market, Canadians still aspire to home ownership and the perception of financial independence that comes with it," says Janet Boyle, Senior Vice President of Home Equity Finance, RBC. "What's changed is that many buyers' mindsets have shifted from the fear of missing out to concern about making the right move at the right time. Working with a mortgage advisor can help reduce uncertainty and provide the guidance and clarity Canadians need to navigate today's market and get closer to their home ownership goals."
Despite home ownership goals, concerns and uncertainty remain
- 46% say there is too much pressure to buy a home today
- 44% say thinking about whether they can afford a home is constantly on their mind (up from 37% in 2025)
- Canadians are also split on market conditions: 33% view it as a seller's market and 27% see a buyer's market (46% and 17% respectively in 2025)
How first-time buyers are working towards their dream
Among those planning to purchase their first home in the next two years, 62% feel closer to their dream of owning a home and 71% have a savings plan in place, with an average of $110,339 saved. Seven-in-10 (70%) plan to use the tax-free First Home Savings Account (FHSA).
Affordability concerns of first-time buyers:
- Majority worry about whether it is the right time to buy (66%) and about making the wrong decision (63%)
- 65% are ready to buy, but say their finances aren't
- Many anticipate sacrifices: 58% say they would do anything to buy a home, 46% expect to live with their parents longer, 42% are delaying having children, and 64% will need a side hustle or second job to afford a home
- Mortgage knowledge remains a barrier with almost two-thirds saying they don't know how much they can afford (64%) or what's required for approval (64%), while 57% are unsure of where to start
Next-time buyers: Confident in the value of real estate and ready to move up
The dream of homeownership doesn't end with a first home. Among current homeowners looking to buy their next home within two years:
- 75% say buying a house or condo is a good investment, and 70% say the benefits of owning outweigh the negatives
- 42% say they are considering buying their next home sooner because of lower interest rates
- 75% are willing to move to the suburbs or a rural area when buying their next home to get a larger home and more space
Mortgage renewals are top of mind for homeowners
- Rising costs are a concern: 59% of homeowners say they are worried about covering the expenses of homeownership. Still, 38% are using lower interest rates to pay down their principal and 29% are paying off their mortgage faster than expected
- 39% are worried about making the wrong decision when renewing their mortgage, rising to 58% for those renewing within the next two years
- 50% say they will need a mortgage advisor to help them navigate the process
"There is a lot of cautious optimism amongst our clients these days" says Brad Evjen, Senior Mortgage Specialist at RBC. "While you can't time the market, you can make educated decisions. Considering cash flow, debt management strategies and future goals all factor into buying or owning a home. Having access to the right tools, expert advice and mortgage solutions can make a real difference in helping buyers feel prepared and confident to navigate the homebuying experience in a way that suits them."
Five top FAQs to help Canadians homebuyers
RBC shares five top FAQs to help Canadians plan, prepare and make informed decisions about buying their first or next home and getting a mortgage:
- How much house can I afford in Canada?
How much house Canadians can afford depends on their income, finances and down payment. Using a mortgage calculator and understanding mortgage affordability can help determine the right price range. Buyers can also prepare by understanding all home ownership costs or knowing what questions to ask if buying their next home and getting pre-approved for a mortgage. - How much do I need for a down payment in Canada?
The minimum down payment depends on the home's price: 5% for homes under $500,000, 10% for the portion of the house price above $500,000 for homes between $500,000 and $1.5 million and 20% for homes over $1.5 million. - Should I choose a fixed or variable rate mortgage?
A fixed-rate mortgage offers predictable payments, while a variable-rate mortgage provides flexibility. Understanding the differences between fixed and variable mortgages and their benefits can help home buyers make decisions that fit their financial situation and goals. - What should I know about renewing my mortgage?
Many homeowners may be feeling uncertain about their upcoming mortgage renewal. Taking a proactive approach and starting the renewal process early, consulting with an advisor, and understanding mortgage features can help homeowners make informed decisions. - Next-time Home Buyers: Is it best to buy or sell my home first?
Deciding whether to buy or sell your home first depends on your financial situation and current market conditions. Buying first lets you take your time and avoid temporary housing, but may mean carrying two mortgages and higher costs, while selling first can simplify your budget and free up down payment funds. Planning carefully, understanding affordability, and consulting a real estate or mortgage professional can help you choose the right strategy for your move.
Looking for advice to navigate your homebuying journey?
- Access trusted homebuying advice and financial education to make more confident home ownership decisions through a new partnership between REALTOR.ca and RBC
- Explore mortgage options, get expert resources and advice and connect with a mortgage specialist at RBC Mortgages
- Quickly determine if you are pre-approved for a mortgage or find the estimated value of your home in just 60 seconds with RBC's Digital Pre-Approval Calculator & Home Value Estimator
- Find answers to all your homebuying, mortgage financing and refinancing questions at RBC My Money Matters
Fast Facts: RBC Home Ownership Poll
Selected Findings – National & Regional
"AGREE" RESPONSE | CAN | BC | AB | SK / MB | ON | QC | AC |
Buying your first home is one of life's biggest financial milestones | 80 % | 74 % | 84 % | 74 % | 81 % | 81 % | 82 % |
Owning a home is a sign of financial independence | 73 % | 70 % | 72 % | 65 % | 74 % | 73 % | 75 % |
Owning a home is essential to my future | 62 % | 55 % | 62 % | 71 % | 62 % | 62 % | 62 % |
Always dreamed of buying a home/property | 67 % | 70 % | 68 % | 61 % | 66 % | 66 % | 64 % |
There is too much pressure to buy a home today | 46 % | 44 % | 39 % | 48 % | 49 % | 44 % | 40 % |
Thinking about whether I can afford to buy a home is constantly on my mind | 44 % | 52 % | 38 % | 46 % | 44 % | 43 % | 30 % |
"LIKELY" RESPONSE | CAN | BC | AB | SK / MB | ON | QC | AC |
Expect to purchase a house or condo within the next two years | 32 % | 37 % | 28 % | 39 % | 33 % | 31 % | 22 % |
WHICH OF THE FOLLOWING WOULD YOU SAY | CAN | BC | AB | SK / MB | ON | QC | AC |
Seller's Market | 33 % | 24 % | 32 % | 48 % | 23 % | 48 % | 49 % |
Buyer's Market | 27 % | 37 % | 21 % | 11 % | 39 % | 12 % | 12 % |
"CURRENT HOMEOWNER" RESPONSE | CAN | BC | AB | SK / MB | ON | QC | AC |
Concerned - About covering the costs of owning a home | 59 % | 63 % | 64 % | N/A | 60 % | 47 % | 63 % |
Worried in past couple of months - About making the wrong decision about renewing my mortgage | 39 % | 35 % | 36 % | N/A | 42 % | 37 % | 40 % |
Agree - Taking advantage of lower interest rates to pay down more principal on my mortgage | 38 % | 42 % | 39 % | N/A | 35 % | 39 % | 35 % |
Agree - Paying off my mortgage faster than I expected | 29 % | 28 % | 28 % | N/A | 28 % | 33 % | 22 % |
Agree - Need/needed a mortgage advisor to help me navigate the process | 50 % | 52 % | 48 % | N/A | 51 % | 53 % | 43 % |
Fast Facts: RBC Home Ownership Poll
Selected Findings – First-time Buyers (FTHB) & Next-time Buyers (NTHB)*
RESPONSE | FTHB | NTHB |
Agree - Feel I'm getting closer to my dream of buying a home | 62 % | 44 % |
Agree - Have a plan to save enough to buy a home | 71 % | 51 % |
Agree - Plan to utilize the tax-free First Home Savings Account (FHSA) in order to save up for a down payment for a home | 70 % | N/A |
Worried in the past couple of months – When is the right time to buy a house | 66 % | 49 % |
Worried in past couple of months – Making the wrong decision about buying a home | 63 % | 50 % |
Agree - Ready to buy a home, but my finances are not | 65 % | 34 % |
Agree - Would do anything to buy a home | 58 % | 42 % |
Agree - Have/will need to live with my parents longer to save enough to buy a home | 46 % | 28 % |
Agree - Have had/would need to delay having children to afford a home | 42 % | 28 % |
Agree - Would need a side hustle or second job to afford a home | 64 % | 45 % |
Agree - Don't know how much of a mortgage I can afford | 64 % | 43 % |
Agree - Don't know what I will need to do in order to get my mortgage approved | 64 % | 39 % |
Agree - Don't know where to start with getting a mortgage | 57 % | 30 % |
Good Investment - Buying a house or condo is currently a good investment | 78 % | 75 % |
Agree - For me, the benefits of buying a home outweigh any negatives | 67 % | 70 % |
Agree - Thinking about buying a home sooner because of lower interest rates | 55 % | 42 % |
Agree - Willing to move to the suburbs/rural area to get a larger home/more space | 78 % | 75 % |
Average currently saved for a home (excluding $0) | $110,339 | $135,708 |
*First-time Buyers do not currently own a home, but intend to buy within the next two years. Next-time Buyers currently own a home and plan to buy a new home in the next two years.
Disclaimer
This news release is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.
About the RBC 2026 Home Ownership Poll
An online survey of 1,719 Canadians aged 18 to 64 was completed between January 7 and January 25, 2026, using Leger's online panel. Leger's online panel has approximately 400,000 members nationally and has a retention rate of 90 per cent. No margin of error can be associated with a non-probability sample (i.e. a web panel in this case). For comparative purposes, though, a probability sample of 1719 respondents would have a margin of error of ±2.4%, 19 times out of 20.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
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Media contact:
Matt Trocchi, RBC
SOURCE RBC Royal Bank
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