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Home prices won’t revert to pre-pandemic levels, should start rising again in 2024: CMHC

Author: 
Steve Huebl
Publication date:
May 2, 2023
Article Summary: 

The article from Canadian Mortgage Trends discusses the forecasted trajectory of home prices in Canada following the COVID-19 pandemic. According to the Canada Mortgage and Housing Corporation (CMHC), the national housing market is not expected to return to pre-pandemic levels. Instead, the CMHC predicts that home prices will continue to rise starting in 2024. The article highlights factors contributing to the ongoing increase, such as strong demand, limited housing supply, and low mortgage rates. It also discusses potential challenges that could impact the housing market, including economic conditions and government policies. The CMHC's outlook suggests a prolonged period of growth in the Canadian real estate market.

Keywords: 

Home prices, Pre-pandemic levels, Rising again in 2024, CMHC (Canada Mortgage and Housing Corporation), National housing market
Demand, Housing supply, Mortgage rates, Economic conditions, Government policies, Canadian real estate market

Source Citation: 
Steve Huebl
Home prices won’t revert to pre-pandemic levels, should start rising again in 2024: CMHC
May 2, 2023
https://www.canadianmortgagetrends.com/2023/05/home-prices-wont-revert-to-pre-pandemic-levels-should-start-rising-again-in-2024-cmhc/
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