We've seen sharply rising pressure on the housing market in recent years. House prices in Canada have increased 50% on average. Interest rate increases have restored more equilibrium to the housing market, and rising interest rates have quickly put a damper on housing demand.
We have a large country, comprising many housing markets, given our various cities. Every city is in a somewhat different situation, but the market, on the whole, is more balanced today than it was. However, housing affordability remains a problem.