"After a four-month run of modestly positive progress on demand, supply, and prices, many of Canada’s housing markets took a step back in September. This was hardly surprising given the latest jump in fixed mortgage rates, and with the Bank of Canada now widely expected to follow with a rate hike before the end of the year,” said Shaun Cathcart, CREA’s Senior Economist. “With housing affordability already stretched, the big question going forward is how much farther will the Bank have to go to keep a lid on inflation next year? Until that becomes clearer, this fresh round of uncertainty will likely send some buyers back to the sidelines."
[ Expert: Canada’s Homes Got Cheaper In September, But Buyers Still Pulled Back ]
"Canadian homes got cheaper in September. Buyers responded by purchasing fewer of them. A falling price is welcome, but it does little for a household whose mortgage approval no longer covers the home."
[ What could happen to home prices if the foreign buyers ban expires? ]
"The federal foreign homebuyers ban is scheduled to expire on Jan 1, 2027, which has real estate experts questioning whether home prices could be at risk of rising sharply if there is pent up demand from non-residents after being closed off for several years."
[ Pooling Resources: 53% of prospective buyers would consider a multi-generational home according to latest RBC Home Ownership Poll ]
"Multi-generational living is on the table for many Canadians looking to buy a home, according to RBC's latest Home Ownership Poll. The research found that 53% of those planning to purchase their first or next home within the next two years would consider a multi-generational home (44% of all respondents). Among current owners, 35% say they would sell their current home and buy one with their child to help them get into the market."
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