Canada's rental market edges toward stability

Canada's rental market shows early signs of stabilization with a 4.0% year-over-year rent decline, the smallest since early 2026. Rents rose 0.2% month-over-month, marking four months of modest gains. Purpose-built rentals outperformed, with three-bedroom rents stable. Toronto leads with tightening supply and near-positive annual rent growth. Nova Scotia remains the priciest province, while major cities show mixed trends.