Provincial & Local Analysis
June 25, 2025
Provincial Housing Market Outlook: Firmer Back Half of 2025 in the Cards for Canadian Housing
We’ve modestly upgraded our home sales growth forecasts for the second half of the year across Canada. This represents the assumption that pent-up demand that was sidelined in a weaker-than-expected first half returns to the market.
June 10, 2025
Support Measures Cap 2025 Provincial Budget Season
Provincial governments faced the difficult task of tabling their annual budgets amid mounting headwinds from U.S. trade policies. Provincial budget season revealed expectations for weaker economic growth and government revenues across the board, manifesting in provincial bottom lines.
November 14, 2024
Ontario’s Industry-based Outlook: Navigating Turbulent Waters
Ontario’s industry-based GDP managed to increase at a slightly faster year-on-year pace than the rest of Canada in the first half this year. This is noteworthy given that the province has had the weakest housing market in the country and is home to rate-sensitive, highly indebted households.
July 18, 2024
Policymakers Take Note: Population Growth is Easing in the Atlantic
Population growth remains incredibly strong in the Atlantic Region. However, it is easing from sky-high rates, just as other parts of the country appear to be holding firm. We anticipate this trend towards slower population growth in the Atlantic will persist, marking a very important development for a region where economic growth has broadly benefitted more from recent population inflows.
