CMHC Housing Assessment: Q3 2019 Highlights

Every Quarter, the Canadian Mortgage and Housing Corporation releases an assessment of the Canadian Housing Market… here are the findings from August 2019:

https://en.wikipedia.org/wiki/Canada_Mortgage_and_Housing_Corporation

Highlights:

  • The Housing Market Assessment (HMA)1 continues to indicate a moderate degree of overall vulnerability at the national level. However, imbalances between house prices and housing market fundamentals have narrowed over the past year.
  • After being flagged with a high degree of vulnerability for twelve consecutive quarters, the overall assessment of the Vancouver housing market has been changed to moderate as evidence of price acceleration has eased to low.
  • The degree of overall vulnerability remains high for Toronto, Hamilton and Victoria. But, conditions of overheating, price acceleration and overvaluation are showing signs of easing in all three centres.
  • Edmonton, Calgary, Saskatoon, Regina and Winnipeg continue to see a moderate degree of vulnerability in the overall assessment, where evidence of overbuilding continues to be observed.
  • A low degree of overall vulnerability is maintained for Ottawa, Montréal, Québec City, Moncton, Halifax and St. John’s. However, overheating conditions persist in Montréal and Moncton, as does overbuilding in St. John’s

If you’d like to see the full report, check out the report on their website:

https://www.cmhc-schl.gc.ca/en/data-and-research/publications-and-reports/housing-market-assessment