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Barrie, Ont., and Regina, Sask., may not leap to mind as the most likely locales for short-term house price corrections in Canada, but that’s what Moody’s Analytics is predicting in a new report being released Wednesday.

“The largest corrections will be in those metro areas that have a combination of recent house price declines, high overvaluation and slower projected income growth,” according to the report from the research arm of Moody’s Corp. “Barrie and Regina lead the list.”

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Moody’s Analytics, which operates separately and independently from ratings agency Moody’s Investors Service, projected median single-family home price growth (or contraction) over the coming year based on year-to-date figures.

Overall, the report projects a fairly stable Canadian housing market with no major short-term correction over the next five years. In markets where there are house price increases, those are expected to continue to moderate, and could be offset by higher income.