October 2026 Real Estate update

Steve McKay • October 28, 2026

October 2026 Real Estate Update

The Hamilton Real estate market has seen steady declines both in the average sale price and number of listings.


Why is this still happening?

You might expect that the inflation episode of 2023 would have worked its way through the market and we should be on the other side of all of this, with house prices rising and cheaper mortgage payments.


You would be disappointed.  If you look at the chart above, you will see that in the last 2.5 years, the interest rate market for a 5-year fixed rate mortgage dropped by over 1.00% and yet sale prices continue to drop.

For specific details of your own neighbourhood, check out Cornerstone (formerly RAHB) and you can see the pronounced drop off since 2023.


Where are all of the buyers?

You might also expect that this drop in sale prices would also lead to a frenzy of activity as first time home buyers clamour to buy up the cheap stock.


Again, you would be disappointed.  First time buyers are emboldened by the lower prices to enter into the market in larger numbers, but not enough to push prices back up.




Bank of Canada Hikes Rate to 2.50%

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Bank of Canada Raises Rate to 2.5% — October 28, 2026

By indi Mortgage • October 28, 2026
On October 28, 2026, the Bank of Canada raised its key interest rate by 0.25%, bringing it to 2.5%. If you have a mortgage, are shopping for a home, or have a renewal coming up, this decision matters. Here is a plain-language look at what changed, why it happened, and what it could mean for you.