The preliminary estimates included the lowest growth in Ontario since 2007, resulting in 25,000 fewer people needing homes; the number was slightly higher for Alberta.
CTV News asked some leading economists for their views; Robert Hogue of RBC said that the numbers are not enough to cause a major correction and highlighted that builders are likely to curb construction if necessary.
University of British Columbia economist Thomas Davidoff said he was surprised that the Alberta number was not higher and says he is not concerned of a major impact on the housing market.
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Economists have been reacting to last week’s figures from Statistics Canada showing a slowing of population growth in some of Canada’s provinces.