Published:Following the correction that began in the spring of 2022, Canada’s housing markets have rebounded sharply over the last several months.hit $729K in May, a monthly increase of $13K, and more than a $116K jump from January. Meanwhile, home sales have risen consistently month over month since February.
The gains, which have been particularly pronounced since March, are “going to have staying power,” according to, and will lead to a further erosion of affordability in Canada’s housing markets. Authored by Randall Bartlett, Senior Director of Canadian Economics, and Hélène Bégin, Principal Economist, the report predicts that population growth — driven by increased immigration — a strong job market, sustained income growth, and pandemic-era savings, will keep housing demand “particularly strong” across Canada.