Canada’s Housing Market Will Return To ‘Balance’ In 2023

Vancouver, Toronto, Calgary

2022/12/06

It is predicted that prices in Canada ↓ ~3.3% from the avg sale seen in 2022. Despite relative stability in prices on a national scale, Ontario and western parts of Canada are set to see further drops. In addition, experts are also predicting a slowdown in sales activity yearly. The other thing that experts expect to drive activity back up in 2023 will be the eventual peak of the central bank’s current rate hike cycle. They are optimistic that the BoC will be cautious in its approach and try to avoid pushing the country into a recession.