Home prices could hit peak levels by next year, set new highs in 2026: CMHC report

OTTAWA — The Canada Mortgage and Housing Corp. is forecasting home prices could match peak levels seen in early 2022 by next year and reach new highs by 2026.

But it says despite an increase in rental housing coming on the market in 2023, supply is not forecast to keep up with demand, leading to higher rents and lower vacancy rates in the coming years.CMHC says affordability in the home ownership market will also be a concern for the next three years, as declining mortgage rates and the strongest population growth since the 1950s will likely spur a rebound in home sales and prices.

Baby boomers are selling their homes and millennials are buying—it’s a ‘generational tug of war,’ a top housing economist says“I can’t sleep, I feel like Robert is talking to me,” the man’s widow told a news outlet. “I hear his voice in my head all the time.”

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Home prices could hit peak levels by next year, set new highs in 2026: CMHC reportOTTAWA — The Canada Mortgage and Housing Corp. is forecasting home prices could match peak levels seen in early 2022 by next year and reach new highs by 2026.
Source: SooToday - 🏆 8. / 85 Read more »

Ottawa becoming a rental city, CMHC report suggestsRental housing dominated construction in Ottawa last year, according to a new report from the Canada Mortgage and Housing Corporation (CMHC).
Source: ctvottawa - 🏆 29. / 67 Read more »

Home prices in Canada could hit peak levels by next year, set new highs in 2026: CMHC reportThe agency’s latest housing market outlook report also says housing starts in Canada are expected to decline this year before recovering in 2025 and 2026
Source: globebusiness - 🏆 31. / 66 Read more »