The Canadian housing market has been a topic of significant discussion and concern in recent years. The latest "Housing Affordability Monitor" report, released on November 1, 2023, sheds light on the current state of housing affordability in Canada, particularly in the third quarter of 2023. In this blog post, we delve into the key findings of this report, offering insights for homebuyers, policymakers, and real estate professionals.
The Deterioration of Housing Affordability
The report begins w...
The Current State of the Market
The Canadian housing market is experiencing a noticeable downturn. Recent data from the Canadian Real Estate Association (CREA) highlights a reduction in property listings and sales, continuing a downward trend that's been evident over the past few months. This decline is significant, as it reflects broader economic and social factors impacting the housing sector.
