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flag Canadian housing affordability improved slightly but remains historically low, with rents under pressure and homeownership still strained, especially in secondary cities.

flag A new CMHC report shows housing affordability in Canada has slightly improved since 2023 but remains at historically high levels, with challenges spreading beyond major cities to Ottawa, Montreal, and Halifax. flag Homeownership affordability hit record lows in 2022 but has seen modest recovery, while rental affordability has stabilized under pressure from inflation, high immigration, and supply shortages. flag Persistent labor mobility from remote work post-pandemic is cited as a key factor in the crisis spreading to secondary markets. flag Renters remain more vulnerable due to tighter budgets. flag CMHC warns affordability will remain a major concern and plans to regularly update its housing affordability index to track trends.

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