Very clear answer - no. The Cédula de Habitabilidad is a document that is a prerequisite for some things and helpful for others, but it is perfectly possible to buy or own a property that does not have a cédula and still be happy with it.
A current and valid cédula is a prerequisite for the initial connection of a property to the public electricity and water supply, and without it you cannot apply for, transfer or renew a holiday rental licence.
However, if a property you are interested in is already connected to the public electricity and water supply and you also do not want to rent the property out for vacations, then the cédula is merely "helpful" in the event of a possible resale, but it is not absolutely necessary.
Against this background, one must always examine and assess the respective situation with all its possible consequences, but blanket statements are of little help and only cause confusion.