The Canadian housing market is expected to see strong growth in 2025, with rising home sales and prices. November data shows a 2.8% increase in sales and a 0.6% rise in benchmark prices, though prices remain 1.2% lower than last year. Experts predict steady growth as interest rates decrease and new mortgage rules, such as 30-year terms for first-time buyers, help stimulate activity.
The market will vary by region and property type. Condos in the Greater Toronto Area and Greater Vancouver will likely continue to struggle due to oversupply, with prices expected to remain flat or decline. In contrast, the single-family home market is set for growth, with detached home prices projected to rise by 7% by year-end. The Prairie provinces, especially Alberta, will also see continued demand and price growth, driven by population growth and affordability.
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