Housing Market Update

Housing Markets Continue to Cool in September

Canadian resale markets eased further in September, as a general sell-off in bond markets lifted mortgage rates. The market’s outlook is tepid as interest rates remain high, real estate investors remain nervous, and the economic outlook softens. National sales dipped 1.9 per cent month-to-month, the third straight drop, but were still 8.1 per cent higher than last September.

October 30, 2023   •   8-min read

The Housing Market Update describes current monthly resale and construction information for two dozen Canadian urban centres. It presents the factors underpinning housing demand, including interest rates, demographics, and incomes. Importantly, the report scales housing activity by a market’s size, enabling “like-for-like” comparisons, and presents data in interactive and easy-to-read charts. Real estate brokers and agents, home builders, housing policy experts, and general economic observers will find this report helpful. 


Lead Economist

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