Housing affordability to improve in 2023, with some regional disparities

​As rising interest rates weigh on housing affordability, a new report suggests some relief may be on the horizon.

The report by Desjardins on Canada's residential real estate outlook said Thursday housing affordability is set to improve in 2023, though to varying degrees across the country. 

Provinces that experienced the largest gains in housing prices during the pandemic will see the sharpest corrections post-pandemic, including the Maritime provinces and areas surrounding Toronto, Vancouver and Montreal, the report said.

However, these regions aren't necessarily the ones that will see the greatest improvements in affordability, said Randall Bartlett, Desjardins' senior director of Canadian economics.