Canadian home prices forecast to decline until mid year before they bottom out and start rising again through 2025. Read more from CMHC
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The national housing agency’s annual forecast, released April 27, predicts that while the average home price for 2023 will end up below last year’s level, a lack of supply and increasing demand will reinforce the country’s housing affordability challenges.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“With demand for housing still well outpacing new housing supply, affordability challenges will persist for owners and renters,” its chief economist Bob Dugan said.
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