Housing Market Index remains sluggish on slow housing starts and high mortgage rates

The Canadian Housing Market Index (HMI) took a Q3 hit, according to the latest report from the Canadian Home Builders Association (CHBA). The single-family HMI recorded a score of 27.4, which is down 2.5 from last quarter. The multi-family HMI is down 4.0 points from last quarter with a score of 28.5. The reported that both indexes are approaching the record lows seen in Q3 2023. Ontario and British Columbia saw the biggest decreases.

Sarah McGoldrick