Summary
This report presents an analysis of Canada's housing market as of December 5, 2024. It outlines the significant recovery trends observed in various regions, driven by lower interest rates and increased homebuying activity. The report details the performance of major markets including Toronto, Montreal, Vancouver, and Calgary, highlighting the rise in home resales and prices in November compared to previous months. In Toronto, home resales increased by 1.9%, while Montreal saw a 15% jump in transactions. The report notes that despite the recovery, affordability issues persist, particularly in Toronto. Vancouver's market is showing signs of improvement, with a 1% increase in resales, while Calgary continues to experience strong demand, with home resales 50% above pre-pandemic levels. The report concludes with insights into inventory levels and price trends across these markets, indicating a gradual path toward recovery in the housing sector.
