National home prices to stabilize in mid-2023 – CMHC

The Canadian housing market has seen a decline in prices over the last 12 months and is expected to recover this summer. However, CMHC predicts that prices will rise again from mid-2023 due to higher interest rates, a lack of housing supply and higher construction and borrowing costs. This is likely to cause affordability issues for potential homeowners, resulting in increased rental demand.

Which Homes Can You Afford?