When is the Best Time to Buy a House in Canada – Summer, Spring?

With Canadian home prices rising steadily this year, home buyers are focusing on the summer and spring months to procure their dream home. With the rise in inventory and potential for growth across multiple regions, buyers are increasingly looking at the right house with the right mortgage solution.

Compared to general winter month trends, the inventory may be on the lower end with the buyer having to dig for the right property at the right location. You may get a lower overall price point for a house, but there may be fewer houses during the Thanksgiving and Christmas months.

It’s also important to understand that activity can fluctuate within specific seasons as well. E.g., home sales fell 1.7% between March and April of this year. You can still get a great house during any time of the season, when you can work with the right broker.


Spring may be the busiest time of the year

The spring season brings with it a range of new properties and new sellers into the market. There is significant amount of activity within the real estate market in Canada during this time. You can expect to see a larger number of homes, across Condos, apartments, houses, etc., with greater buyer activity.

You can also find sudden rising in interest during new program announcements, holiday long weekends, and other periods of high activity. These can be important to track during the spring season as the market may be filled with more buyers during this period.

You can also find the sales-to-new listings ratio at around 53.4% this year in April. This indicates that there are new listings available, with comparatively lower sales, which means that you can get a wider range of more affordable houses.

For many buyers Spring will be the right time to explore houses and put down an offer for their dream home.


What about the Fall – August onwards?

While the market peaks around June and July, it is expected to fall around August onwards. You can expect to see lesser number of houses in the listing in your preferred area. You can also expect the prices to lower down as well as we head towards October.

You can benefit from more favourable prices during this period, especially if there is an expected interest rate drop during this period. You may also see pockets within high value cities, such as Montreal and Toronto, where housing prices may be more favourable for prospective home buyers.


The winter time may be the right season for lower inventory and prices

The winter time in Canada is characterised by fewer buyers in the housing market. It may generally be considered the best time to buy a house when you’re looking at a low inventory and low price approach. You may have lesser number of houses available, with fewer buyers, allowing you to benefit from a more favourable environment.

You can explore a smaller subset of houses, but get more time to think about a decision and lock-in a final price point. Home sellers may also be more open to new offers if they haven’t considered selling from the offers they received in the spring or summer time.


Don’t wait too long to buy your dream home

When you find the home you’ve been looking for, then it’s good to put down an offer. This can be important in periods of high demand, such as summer, which is when you may also find the right types of houses you’re looking for.

There may also be periods of pent up demand from lower activity over the past few years in certain areas. You can also check the housing supply in certain regions to check the overall activity for your mortgage range.

It’s also important to get the right mortgage rate, term, and plan for your home as well. This is to cushion against rate fluctuations, mortgage renewal payment shocks, and rising variable mortgage interest rates.


Should I buy a house now or wait for next season?

There are several factors that go into understanding when to buy your next house. You can consult with the brokers at sHelto to help you get started. Using these parameters, you can refine your decision further and understand the factors that go into making the purchase.

Inventory of listings

Based on the time of the year, the inventory of listings will impact your purchasing decision. You can review the listings in your desired area to understand which homes have been in the market for how long. You can make an offer on some of the older listed homes to gauge market trends.

Housing price trends

It’s important to understand whether we are heading into a buyer’s market or a seller’s market, to check for pricing trends. You can see condo sales, apartment listings, housing fluctuations to get a good idea of where the market is heading.

Down payment readiness

Your down payment readiness will affect what kind of house you can buy during what periods. If you’re aiming to get a Condo in Ontario, then your down payment will be substantially higher. This can change when you can buy a home, as well as your interest rates for monthly mortgage payments.

Credit score

Your credit score will determine your mortgage rates, your monthly mortgage payments, insurance, etc. Your lender will be able to offer you a more favourable rate if your credit score is higher. It may be wiser to improve your score by improving your borrowing history and rectifying credit report mistakes.

The right broker

It is important to work with an experienced real estate agent who can understand the right purchase price, overall national average home price trends, and market value in certain regions. They can connect you with the right lenders who can provide the right interest rates.

Home buying programs

There are a range of home buying programs and incentives offered by the Canadian government to help you save up for a down payment. TFSA, RRSP, and The Home Buyer’s Program can help you get started, while empowering you to enter the home buying market.

Reviews & recommendations

Praise Pour In : Clients Share Their Delightful Experiences and Stellar Recommendations

Mista BenzMista Benz
15:54 19 Dec 24
Very professional. Great experience dealing with Furqan Iftikhar. He is very helpful and makes the process very easy to make your deal successful.
SkylarkaSkylarka
14:41 18 Dec 24
Had a pleasure working with sHelto Mortgage during the home buying process. Furqan Iftikhar provided support each step of the way, from initiation to loan closure. Would highly recommend their services for home buyers.
Sumit GargSumit Garg
11:51 18 Dec 24
Suman is very knowledgeable with mortgage products and guide his clients thoroughly with his experience in the process of mortgage approval from lenders .
Hammad KhanHammad Khan
05:20 18 Dec 24
Had a great experience with them specially Furqan he treats you like a family not a client.
Anish MenonAnish Menon
04:51 18 Dec 24
Very professional and knowledgeable team to work with. Absolutely recommend.
Rajiv AroraRajiv Arora
03:51 15 Dec 24
Shelto is a MUST go place to get solutions for your financing challenges whether it is mortgage, heloc, last minute rush . You will experience a knowledge powerhouse with a focus to share and explore every possible solutions . Staff, Agents and Principal broker always available to answer your concerns and love to go Extra Mile for their valued client to find perfect option for clients. If you wish to join as Mortgage Agent then this is the place to equip yourself with all tools and resources to surf the challenges of mortgage industry. Highly recommended.
Chetan AnanthulaChetan Ananthula
14:56 01 Nov 24
Me & my wife, we recently had the pleasure of working with Mandy as my mortgage agent, and I couldn’t be more grateful for her exceptional service and expertise. From the very beginning, Mandy took the time to understand my financial situation, future goals, and all the nuances that come with securing a mortgage. She patiently guided me through every step of the process, answering all my questions in detail and ensuring I felt comfortable with each decision.
Priyamsha PadigaPriyamsha Padiga
14:53 01 Nov 24
Working with Mandy was not only a professional experience but also an emotional relief. Her warmth, patience, and expertise helped ease the stress of the mortgage process. She truly cared about my needs, taking time to explain every detail and finding options that perfectly suited my situation. Mandy’s dedication and professionalism made me feel supported and confident from start to finish. I couldn’t recommend her more highly—she’s the kind of agent who goes above and beyond, both personally and professionally
Narasimha VelichetyNarasimha Velichety
00:02 31 Aug 24
I had an incredible experience working with sHelto. They made the entire mortgage process smooth and stress-free. Their team is knowledgeable, responsive, and truly dedicated to finding the best rates and terms for their clients. I couldn’t be happier with the service I received!
Moe MOEMoe MOE
23:53 29 Aug 24
Great service, Mohsin and Furqan helped me with my refinance and buying an investment property. Mohsin is very dependable ,easy to get a hold of and patient. He made this stressful process very easy-going for me. although I had many questions, He always carved out time to answer all of my questions and explained why. I was very hesitant at first to go with these guys however, now I am glad I did and I met Mohsen. I truly believe these guys can help anybody in any situation for their mortgages. They became a one stop shop for me. I did not have to contact anybody. They did all the work for me. I highly recommend Mohsen. ThankYou guys for helping me in this process two thumbs
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