With 2023 just a few weeks away, Canadian real estate company Zoocasa is forecasting
“The interest rate hikes may still outweigh the rental increase cap in many situations, forcing landlords to either pay out of pocket to hold onto their investment property or put it on the market,” says Haw.“The demand for rental properties across the country is already surging as the dream of owning a home has become increasingly unaffordable for many Canadians,” Zoocasa’s report goes on to say.
“Although we expect to see inventory rise because sellers can’t put their plans on hold any longer, inventory will likely still be low in the first half of the year,” writes Zoocasa, also cautioning that due to seasonally soft supply in the winter, inventory could “trend toward the lower end of the one month mark” in 2023, hitting a new all-time low.