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.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Economists have been reacting to last week’s figures from Statistics Canada showing a slowing of population growth in some of Canada’s provinces.