1、CANADIAN METROPOLITAN AREASFebruary 2025HOUSING MARKET INFORMATIONHousing Market OutlookSubscribecmhc.ca/housingupdatesTo request an alternate format,please contact us at:1-800-668-2642 contactcentrecmhc.ca700 Montreal Road,Ottawa,Ontario K1A 0P7Click on links below for direct access.3 National Over

2、view 8 British Columbia Markets 14 Prairies Markets 24 Central Markets 35 Main Eastern MarketsTable of ContentsHousing Market Outlook in select Census Metropolitan Areas(CMAs)Housing Market Outlook|February 20252National OverviewHIGHLIGHTS Foreign trade risks and immigration changes add significant

3、uncertainty to the outlook.We expect economic activity to be modest in 2025,picking up in 2026 and 2027.Housing starts will slow down from 2025 to 2027 mainly due to fewer condominium apartments being built but total starts will remain above their 10-year average.Rental apartment construction will r

4、emain high but may slow in 2027 as demand eases.Ground-oriented homes(detached,semi-detached,row homes)may recover slightly,especially in more affordable options like row houses.We expect housing sales and prices to rebound as lower mortgage rates and changes to mortgage rules unlock pent-up demand

5、in the short term.In the longer term,stronger economic fundamentals will support this rebound.The recovery will be uneven,with slower progress in less affordable regions and in the condominium apartment market.Rental markets are expected to ease with higher vacancy rates slowing rent growth.Renter a

6、ffordability will improve gradually,with more noticeable changes happening later in the forecast period.EconomyUncertain economic outlook amid geopolitical and immigration shiftsCanadas economic future faces significant uncertainty due to potential changes in U.S.trade policies and lower immigration