Rents Become More Affordable, Reaching 2022 Lows

Summer rent recovery in Canada has stalled, with asking prices now 7% below last year and at their lowest since 2022. August rents slipped 0.1% from July, ending four months of gains. The Canada-US trade dispute poses new risks, potentially weakening employment, consumer confidence, and new construction supply. Toronto showed relative strength in July but saw declines by August. Nova Scotia remains the priciest market, while some provinces show signs of stabilizing rents.