Canadian millennials are showing they are committed to their plans to buy a home in 2026, even as affordability challenges and economic uncertainties continue to shape the country’s real estate landscape.

According to the third annual 2026 Homebuyer Intentions Survey from digital real estate platform and brokerage Wahi, millennials are more likely than any other generation to say they will purchase a property this year.

The survey found that 25 per cent of millennials say they will “probably” buy a home in 2026, up slightly from 23 per cent last year. This positions millennials as the most determined demographic of prospective buyers in Canada.

Overall, 17 per cent of Canadians report they are likely to buy a home this year, unchanged from previous surveys, suggesting that overall buyer intention has remained steady despite broader concerns about tariffs, job security and affordability. 

Buying intentions vary among generations and by province

Not all age groups share millennials’ enthusiasm. Younger Gen Z Canadians appear more cautious: only 15 per cent say they plan to buy a home in the coming year, down from 20 per cent the prior year. This drop highlights how rising home prices and financial barriers may be delaying entry into the market for younger adults.

Gen X buyers showed steady interest at 18 per cent, while interest among baby boomers edged up to 10 per cent. Older buyers often benefit from established equity and financial flexibility, making them less sensitive to borrowing challenges and market fluctuations. (Article continues below graphic)

Across Canada’s provinces, homeownership intentions also vary.

British Columbia, known for some of the country’s most expensive housing, had strong buyer interest with 20 per cent of respondents indicating they are planning to buy.  Alberta and Atlantic Canada followed with 17 per cent, reflecting affordability advantages in many parts of those regions. In Ontario, 16 per cent of respondents said they are likely to make a purchase this year (similar to 2025) despite broader price pressures.

While many Canadians still plan to buy a home, financial uncertainty remains a major consideration for would-be buyers. Nearly three-in-10 Canadians who say they intend to buy a home also said concerns about their personal financial situation could delay their purchase decision. 

Affordability cited as No. 1 barrier 

Affordability remains the most commonly cited barrier, with 52 per cent of prospective buyers saying they may hold off to see how home prices evolve. That aligns with ongoing market conditions where buyers are closely watching price trends and inventory levels before committing.

On the borrowing side, the picture has brightened somewhat compared with last year.

Thanks in part to four rate cuts by the Bank of Canada in 2025, fewer Canadians say they are unsure about their ability to secure a viable mortgage. Only 12 per cent now express uncertainty about obtaining financing, a notable improvement from 2025.

Nevertheless, about 30 per cent of prospective buyers say they may wait to see how interest rates develop before moving forward. That’s a decrease from 38 per cent a year earlier, suggesting growing confidence even as some buyers remain cautious.

The 2026 Homebuyer Intentions Survey paints a picture of cautious determination across Canada’s housing market. Affordability challenges, personal finance concerns and interest rate uncertainty are still shaping buyer behaviour. But significant segments of the population, especially millennials, continue to plan for homeownership in the year ahead.