Canada's Housing Market Is Starting to Stabilize, Say Economists

After a few years of ups and downs in the housing market, the start of the 2023 buying and selling season has brought greater stability according to economists. New listings are at 10-20 year lows in many cities, but mortgage rates are stable and likely to decrease in the near future, which may encourage more buyers. Rent prices have risen rapidly and are approaching the 5% annual value equilibrium, which suggests that home prices have stopped falling and may soon stabilize. This is consistent with the belief of economist Moshe Lander, who believes that the worst of the fall in home prices is over.

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