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Vancouver, Calgary, Toronto Housing Market Outlook 2024-2026

📩 Subscribe to Deal of the Week: https://www.condowong.ca/deals 📲 Schedule a Call with Dan: https://www.condowong.ca/call Latest CMHC Housing Market Outlook: Vancouver, Calgary, and Toronto Analysis In this episode, we dive deep into the latest housing market outlook report released by the Canada Mortgage and Housing Corporation (CMHC). Here’s what we cover: National Highlights: 1. Economic Growth Outlook: Weak growth expected in 2024, with potential trouble if interest rates remain high. A rebound is projected in the next two years as rates decrease. 2. Housing Starts Prediction: Low starts anticipated in 2024 due to slow pre-construction sales, leading to supply challenges in the next two years. 3. MLS Price Forecast: Demand may push MLS prices beyond previous peaks. We’ll explore how high prices might go in specific sub-markets. 4. MLS Sales Rebound: Strong population growth is expected to drive sales beyond the past 10-year average, though still below the record levels of 2020-21. 5. Rental Housing Demand: Rising costs of ownership will push more people to rental housing, leading to increased rents and lower vacancy rates. Market-Specific Analysis: 1. Vancouver: A robust recovery is foreseen, with average resale prices projected to grow significantly by 2025 and potentially surpass 2022 peaks by 2026. 2. Calgary: The hottest market in recent years due to lower prices compared to Vancouver. Prices are predicted to rise steadily, potentially reaching a 32% increase from 2022 by 2026. 3. Toronto: Developers face challenges due to rising costs and slow investor activity. Predictions indicate potential price increases dependent on economic factors and policy changes. Join us as we analyze these trends and discuss the potential impact on the Canadian housing market. Don't miss out on the latest insights—subscribe and hit the bell to stay updated on all market movements! 🔔 Subscribe for More Updates:    / @condowong   👍 Like and Comment: Share your thoughts on CMHC's predictions! 📅 Stay Tuned: The big Bank of Canada announcement on June 5 could be a crucial turning point!