CMHC's 2025 Housing Market Outlook

The Canada Mortgage and Housing Corporation (CMHC) has revealed its 2025 outlook for Canada’s housing market, impacted by economic uncertainty, shifting immigration policies, and interest rate changes.

Key Points:

  • Economic Risks: Trade tensions with the U.S. and reduced immigration targets may slow growth.

  • Housing Recovery: Lower interest rates and pent-up demand are expected to boost the housing market, with affordability challenges remaining.

  • Regional Variations: Housing recovery will vary across regions, with resale homes leading the way while new construction lags behind.

  • Condo Market: Condominium sales and construction may be slower due to high costs and rising financing difficulties.

Scenarios:

  1. Low-growth: Economic strain leads to delayed housing recovery.

  2. High-growth: Lower tariffs and stronger U.S. government spending could accelerate recovery.

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Feb 12, 2025