# Canada's housing market faces population shift

> Canada's housing market may collapse as immigration cuts hit population growth.
- Title: Canada's housing market faces population shift · Financialpost
- Summary: Canada's housing market may collapse as immigration cuts hit population growth. Canada's housing market could fall further if immigration levels drop, with…
- Keywords: canada, housing market, population, immigration, real estate, national bank of canada, trudeau, non-permanent residents, money, business, Canada's, housing
- Source: Financialpost — https://financialpost.com/news/canada-housing-market-faces-population-reckoning
- Read time: 1 min
- Topics: canada, housing market, population, immigration, real estate, national bank of canada, trudeau, non-permanent residents, money, business
## 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.
## Key takeaway

Canada's housing market could fall further if immigration levels drop, with prices down 23% from 2022 peak.