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January 15, 2025
Despite ongoing challenges, Canadian homebuyers are committed to entering the market in 2025. According to Wahi’s Homebuyer Intentions Survey, 52% plan to cut spending, 31% will adjust investments, and 30% intend to work extra hours to afford a home, reflecting a shift from last year.
In Ontario, developers can now use mass timber for buildings up to 18 stories, offering a more affordable and sustainable alternative to concrete.
Politically, with Prime Minister Trudeau announcing he won’t seek re-election, housing affordability is expected to be a central issue in the upcoming federal election.
Additionally, many Canadians face mortgage renewals in 2025, with a third of mortgage holders anxious about rising costs. In response, 61% are cutting back on spending, and some are changing jobs.
In the GTA, home sales increased 2.6% in 2024, mainly driven by single-family homes, while condo sales fell. Inventory surged by 16.4%, but sales declined in December, pointing to a mismatch between listings and demand.
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I acknowledge I can only access these forms as a ComFree customer under contract.
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