Those looking to buy a home – be it their first place, a bigger one for a growing family or a smaller one for Zoomers downsizing – will be interested in Canada Mortgage and Housing Corporation’s latest report on the real estate market.
CMHC says Toronto is among several cities that face a high risk of a correction due to a combination of things, including overvalued prices.
Back in April, the national housing agency said Toronto only had a moderate risk of a correction.
In addition to Toronto, CMHC says Regina and Winnipeg also face a high risk of a correction.
But Vancouver, one of the priciest markets, faces a low risk.