Housing Market Update for December 2025
National Resale Market Eases but Housing Starts Rebound
Housing demand faces conflicting influences. There is clearly pent-up demand due to previously rapid population growth and employment has held up surprisingly well against a malevolent economic backdrop. The Bank of Canada’s December rate pause leaves little doubt that mortgage rates have hit their cyclical low.
January 6, 2026 • 8-min read
About the Series
The Housing Market Update describes current monthly resale and construction information for two dozen Canadian urban centres. It presents the factors underpinning housing demand, including interest rates, demographics, and incomes. Importantly, the report scales housing activity by a market’s size, enabling “like-for-like” comparisons, and presents data in interactive and easy-to-read charts. Real estate brokers and agents, home builders, housing policy experts, and general economic observers will find this report helpful.
The Housing Market Update is available online from November 2009 onwards.
Methodology
The Housing Market Update is a monthly report that summarizes activity in Canada’s new and resale housing markets and places it in a broader economic context. The Update uses Canada Mortgage and Housing Corporation data to analyze the new-home market, while sales, price, and listings data from the Canadian Real Estate Association and the Quebec Professional Association of Real Estate Brokers describe resale activity. Associated economic indicators are drawn from various other sources including Statistics Canada, the Canadian Home Builders’ Association, and the Canadian Bankers Association.
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