Housing Market Index (HMI)
Multi-family builder sentiment lowest since early 2021, single-family not far behind as home sales in Canada continue their downward slide
CHBA’s 2024 Q4 Housing Market Index (HMI) shows further decline in the sentiment of Canada’s homebuilding industry, a result of current poor selling conditions for both single-family and multi-family homes through Ontario and British Columbia, with other areas of the country also dipping since the previous quarter, and a weak outlook for the near future.
Read MoreHomebuilder sentiment keeps declining: continued policy and interest rate changes needed to turn around market
Builder sentiment across the country continued to decline in the third quarter according to the results from CHBA’s 2024 Q3 Housing Market Index (HMI), with Ontario and British Columbia in particularly dire circumstances. Both indexes are approaching the record lows seen in Q3 2023.
Read MoreRecord low builder sentiment foreshadows troubling housing starts, underscoring need for housing policy changes
The Canadian Home Builders’ Association (CHBA) Housing Market Index (HMI), a leading indicator about the health of the residential construction industry in Canada, reports that builders are increasingly worried about the state of industry conditions, and that housing starts will be further repressed in 2024.
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