What happened
Canada's population boom is losing steam, and BMO economists say it's showing up in housing: softer rental demand, slower condo activity, and cooling housing inflation, per Canadian Mortgage Trends' coverage.
For years, record immigration underpinned relentless demand — especially for condos and rentals in the GTA. A slower-growth era doesn't mean prices collapse, but it does mean less frenzy: more listings to choose from, more negotiating room, and less pressure to waive conditions just to compete.
“easing rental demand, weighing on condo activity and slowing housing inflation” — Population slowdown is cooling Canada's housing market: BMO, Canadian Mortgage Trends
The EverLend take
Buyers who were priced out of the condo market in recent years may find this the most balanced conditions in a long time — particularly first-time buyers and investors. Getting a pre-approval now means you can move decisively when the right unit appears.
Source & further reading: Population slowdown is cooling Canada's housing market: BMO on Canadian Mortgage Trends.
Wondering what this means for your own mortgage? Talk to an EverLend agent — no cost, no pressure.