AGENT LICENSE ID
M22000044
BROKERAGE LICENSE ID
12808
Nada Maqsood
Mortgage Agent - Level 2
Office:
Phone:
Email:
Address:
3-109 Old Kingston Road, Ajax, Ontario, L1T 3A6
CMHC Housing Supply Report
5/10/2023
Highlights from the April 2023 Housing Supply Report:
- Growth in residential construction was mixed across Canada’s 6 largest census metropolitan areas in 2022.
- Current new home inventories are at historic lows even though housing starts were strong during the pandemic.
- Housing starts increased in Toronto, Calgary, Edmonton and Ottawa. Starts were stable in Vancouver and decreased in Montréal.
- New research completed by the University of British Columbia using CMHC data shows that most housing starts were built in low-amenity neighbourhoods. Apartments, however, tend to be in high-amenity areas .
- As interest rates increased, homebuyer purchasing power dropped. Prices decreased slightly in most markets.
- Apartment construction – both purpose-built rental and condominiums – continued to grow.
