CMHC releases 2025 Housing Market Outlook

Ottawa, February 5, 2025

With Canada’s economic future facing significant uncertainty due to changes in U.S. trade policies, the Canadian housing market could face considerable headwinds in both the short and medium term.

This is according to the latest Canada Mortgage and Housing Corporation (CMHC) Housing Market Outlook (HMO), which provides forward-looking analysis into Canada’s national and major housing markets through 2025 – 2027.

Taking this uncertainty into account, this year’s HMO does not identify a base case, but rather three plausible scenarios and analyzes how these scenarios would affect the housing market throughout the forecast timeframe.

CMHC will continue to monitor these evolving economic and housing market conditions and update its forecasts as necessary.

Watch the podcast breaking down the 2025 HMO on CMHC’s YouTube channel.

Read the entire Housing Market Outlook (HMO) on the CMHC website. At the end of February 2025, CMHC will release detailed forecasts for housing markets in Canada’s large cities.