Population growth is slowing sharply — projected near 0% this year before slowly recovering toward ~0.7-0.8% by 2029 under updated scenarios. This is a big shift from the faster growth seen earlier in the decade.
Why it matters for real estate:
🏡 Lower long-term housing demand: Slower growth in the key homebuyer age groups (especially Millennials) suggests less upward pressure on demand compared to recent years.
📉 Impact on affordability & pricing: With demand moderating and supply dynamics evolving, expect housing markets to adjust — less dramatic home-price escalation and more buyer leverage in some areas.
🌍 Regional dynamics vary: Some provinces like Alberta may continue to grow faster, while Ontario and B.C. could see the impact of slower population momentum more strongly.
In short: demographic trends are shifting the foundation of Canada’s housing demand — and that’s something every buyer, seller, and investor should watch closely.
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