Researchers predict Canadian home price gains will grind to a halt in the coming years — and when values do get on the road to recovery, the pace of growth won’t be anything like the last price runup.
The trend for Canadian housing starts was steady in January with 208,131 units improving on December’s 207,171 units.
The Canadian housing market’s performance has been even worse than TD expected, but there are multiple reasons one of Canada’s biggest banks doesn’t predict “a further sustained deterioration” — or worse — this year.
Faced with higher interest rates and tougher mortgage qualification rules, many Canadians have turned to the new condo market as a more affordable shot at homeownership. One property type that hasn’t been as attractive? Townhouses.
The Canadian housing market will see activity moderate over the next two years, according to the latest forecast from the Canada Mortgage and Housing Corporation (CMHC).
The federal housing organization is predicting a flattening of sales and prices in 2019, with the average national home sale price coming in somewhere between $501,400 and $521,600.
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