Most Canadians have affordability concerns about buying or selling a home in 2023, though a third of people are optimistic about a more balanced housing market this year, according to a new survey from RE/MAX Canada.
found that 59 per cent of Canadians have at least one concern “related to their home-buying or selling journey” in 2023.
RE/MAX Canada president Christopher Alexander said this year could see “major shifts in how brokers run their business” as the market moderates and the industry responds to a slowing economy. The report pointed to possible broader economic effects from challenges in the housing market. It said employers may struggle to attract new workers due to the lack of secure housing, and local communities may be unable to attract and retain new businesses amid higher office rental costs.
Alexander encouraged “visionary thinking” from governments to tackle the housing crisis, suggesting reforms to municipal zoning laws, expanding laneway development capacity and building more housing supply “in a manner that doesn’t compromise climate adaption and mitigation efforts.”
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