For the first time in 2.5 years, Canada Mortgage and Housing Corporation has rated the housing market as only moderately vulnerable, indicating the hot conditions characterized by bidding wars and sky-high prices may be cooling off a little. CMHC measures vulnerability to identify imbalances in the housing market that could result in dramatic corrections where consumers lose money. It also evaluates Canada's housing market as a whole, including the vast area outside of the 15 main cities. Report seen as good consumer newsHigh-demand markets in Vancouver, Victoria, Toronto and Hamilton continue to receive grades of high vulnerability overall. Notably, though, in Vancouver — Canada's most expensive housing market — overvaluation eased from high to moderate, and overheating from moderate to low.

Source: CBC News May 02, 2019 17:48 UTC