RE/MAX: fundamentals improving in 92% of industrial markets and 83% of retail
RE/MAX Canada's Fall 2026 Commercial Report points to improving commercial fundamentals across most of the country, led by industrial and retail rather than office.
The report was released Oct 27. Fundamentals were improving in industrial in 92% of markets surveyed, in retail in 83%, in multifamily in 58%, in office in 42%, and in land in 17%.
The report names six trends: a bricks and mortar retail revival, smaller footprints, defence spending, retrofits, AI and data centre land, and institutional capital returning to rental housing.
This is a broker survey, so treat it as soft data on sentiment and activity, not as transaction pricing. The GTA volume and multifamily detail in the report were already covered in an earlier brief and are not repeated here.
For investors, the ranking is the useful part. Industrial and retail improving in more than four fifths of markets, with office below half and land at 17%, supports a selective stance: favour cash flowing industrial and retail with real tenants, price office on its own fundamentals, and treat land as a patient capital play rather than a near term income play.
Source: RE/MAX Canada, Fall 2026 Commercial Report, released Oct 27, 2026. Broker survey data.
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