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.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.
* Only when the buyer comes direct, otherwise the seller may choose to negotiate a commission with the buyer’s agent.
