Interest rate has direct impact on real estate markets. Its influence on an individual's ability to purchase residential properties (by increasing or decreasing the cost of mortgage). As interest rate decrease (mortgage cost decrease), buyer will have more money to purchase your home. Luckily, in Canada, the interest rate has been very low and stable, hovering at 1-2.5%.
According to the graph, housing price is increasing every year, regardless you know it or not. If you are thinking of selling your house and buying a new one. There is no right timing or bad timing when then market is constantly increasing. The cost of buying a new home will also increase as you earn more profit by selling your current home.