will also likely decline as demand outpaces rental supply. We foresee a significant drop in housing starts in 2023 than seen in the 2020-2022 period, but some recovery in 2024 and 2025."
CMHC: “Declining house prices and weaker housing supply are expected to continue to affect Canada’s housing market in 2023. While prices have declined, homeownership will be less affordable because of higher mortgage rates and still-elevated price levels. Rental affordability
Greater Toronto Area (GTA) home prices fell in July for the second straight month and home sales tumbled nearly 30% as the Bank of Canada continued to raise borrowing costs. The average price of an area home fell 5.4% in July from June to C$1,118,374 ($837,796), while
Toronto home sales and prices up from last year, but momentum slows. Prices, sales and new listings all moved higher in the Greater Toronto Area real estate market in July, but some market watchers believe rising borrowing costs and a still-limited supply of available properties
Uncertainty surrounding the direction of borrowing costs, jobs and the overall economy has impacted home sales over the last two months. Over the long term, the demand for ownership housing will remain strong on the back of record population growth. However, many homebuyers will