Overview

• About 40 percent of Canadian renters say they are waiting for further price declines before buying, compared with 30 percent in 2024.
• Asking rents have eased for eight consecutive months but remain 5.7 percent above levels from two years ago.
• National housing prices fell 3.5 percent in May year-over-year and home sales rose 3.6 percent, marking the first monthly sales increase since November.
• More than half of renters plan to buy a property within the next five years but just 16 percent expect to do so within two years, with 29 percent waiting for interest rate cuts.
• Forty percent of renters say they have cut grocery spending and thirty percent have reduced savings to cope with rent burdens, and nearly one third report they do not plan to buy because desired neighbourhoods are unaffordable.