Canada Faces Rising Business Insolvencies and Gradual Housing Market Recovery

As business insolvencies reach a peak not seen since 2019, the housing market shows signs of stabilization with a cautious return of buyers.

Insolvency filings in Canada hit their highest level since 2019, continuing a rising trend into 2024.
The housing market is expected to see a gradual return of buyers and inventory, with a 'staggered' recovery anticipated over the second half of the year.
Canadian home prices have begun to stabilize, with the benchmark home price remaining unchanged in February.
A series of Bank of Canada rate cuts is anticipated to be necessary before a significant increase in market activity occurs.
Key business events in the coming week include a speech by the Bank of Canada's senior deputy governor and the release of January's GDP figures.