From Financialpost · · 1m
Canada's housing market faces population shift
Canada's housing market may collapse as immigration cuts hit population growth.
In brief
Canada's housing market may collapse as immigration cuts hit population growth. Canada's housing market could fall further if immigration levels drop, with prices down 23% from 2022 peak. Originally reported by Financialpost.
Housing prices down 23%
Canada's composite benchmark home price is down 23 per cent from the peak of the pandemic housing market in early 2022.
Immigration cuts threaten market
National Bank of Canada warns that reduced immigration could worsen housing market pressures over the next two years.
Population growth slowing
NPRs' share of the population was 6.7 per cent as of July, below 2024 levels but still rising.
Housing market sputters
Sales dropped nearly eight per cent from a year ago and prices fell 3.5 per cent in September.
2027-2028 crunch time
National Bank of Canada predicts 2027 and 2028 could be the worst period for housing market pressures.
In short
Canada's housing market could fall further if immigration levels drop, with prices down 23% from 2022 peak.
