Canada’s December Housing Market: Rising Vacancies and Construction Amid Shifting Trends
Mortgage renewals in Canada are expected to peak next year, potentially creating financial strain for many homeowners, while vacancy rates are rising nationally, challenging investor cash flows and contributing to rent declines in several markets. Household debt has reached record highs, and purpose-built rental construction is at historic levels. Elevated building permits point to significant pent-up housing supply, but high interest rates remain the biggest constraint on new rental development, and some developers are delaying condo closings due to weak buyer demand. 
Population growth is slowing, particularly among international students, with the largest vacancy increases occurring in markets tied to post-secondary institutions, and rental affordability is improving in areas where rents have declined. The monthly market call presented by analyst Daniel Foch provides data-driven insight into these evolving trends affecting Canada’s housing and rental landscapes, helping real estate professionals and investors navigate current conditions.
Source: Real Estate Magazine
