With the Canadian federal election just around the corner, a lot of people are feeling a little hesitant — and it’s showing up in the real estate market.
Right now, buyers and sellers are both hitting the brakes. It’s not because there’s anything majorly wrong with the economy today — it’s because nobody knows exactly what’s coming next. Uncertainty always makes people cautious, and when you’re talking about the biggest purchase (or sale) most people will ever make, that caution is amplified.
Across the country, home sales are down. In Ottawa, for example, sales in March 2025 were down about 6% compared to last year. Nationally, the drop was closer to 9%. That’s a pretty clear signal that people are waiting to see what happens before making big moves.
And it’s not just real estate. Elections have a way of shaking up all kinds of markets — including stocks. Right now, investors are sitting on the sidelines too. The Canadian dollar has been softer, and you’re seeing more volatility across the board as people wait to find out whether we’ll get a government that leans toward business-friendly policies or one that pushes a different agenda.
Both major parties are promising economic growth, but in different ways. The Liberals under Mark Carney are talking about boosting internal trade and infrastructure, while the Conservatives under Pierre Poilievre are focused on cutting taxes and reducing the deficit. Either way, the markets — and everyday people — want clarity before they commit.
The good news? Markets, including real estate, tend to bounce back once the dust settles. No matter which way the election goes, we’ll have more certainty, and that usually means more confidence to buy, sell, invest, and plan for the future.
Until then, if you’re wondering how this all might affect your plans — whether you’re thinking about buying, selling, or investing — feel free to reach out. I’m always happy to chat.
The Evans Real Estate Group Blog 