According to a Scotiabank forecast, the Greater Toronto Area’s (GTA) housing market hinges on the renegotiation of the Canada–United States–Mexico Agreement (CUSMA). While a gradual economic recovery is anticipated, with GDP growth potentially reaching 1.5% in 2026 and 2% in 2027, uncertainty surrounding CUSMA poses a significant risk. The Bank of Canada is expected to hold steady on interest rates until trade negotiations conclude. Failure to reach an agreement could negatively impact Canada’s export-oriented sectors and overall risk environment, with potential repercussions for housing demand and pricing. This aligns with concerns raised by the Conference Board of Canada, which views the 2026 CUSMA review as critical for the housing and mortgage sectors. Read more about the potential impacts on the GTA real estate market in the full article.
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