Festival condos for sale. Toronto real estate investment highlights! The Canadian housing market is in the doldrums in 2018 and a turnaround in 2019. What will happen this year?Please Visit: Festival condos for sale to Get Your VVIP Registration Today!
The Canadian Real Estate Association (CREA) and a number of real estate agents believe that this year’s market is about the same as last year, continuing to make a comeback.
CREA estimates that home sales are expected to continue to rise this year, but housing supply cannot keep pace with the rise in sales, putting upward pressure on house prices. What are the trends of the housing market and interest rate environment this year? Let’s take a look at the expert analysis.
With strong population and employment growth in many parts of Canada this year, coupled with the fact that interest rates are not expected to rise, the basic supporting factors of the housing market are strong, and house prices are expected to continue to rise.
Average house prices in Canada are estimated to have risen 6.2 per cent to 531000 this year, while prices in Central Asia, sa and New Zealand are estimated to have fallen slightly, but growth in Ontario, Quebec and Ocean provinces has been stable. National home sales are estimated to rise 8.9% to 530000 units this year. On current trends, Canadian house prices are estimated to have risen 2.3 per cent to 500000 last year compared with the previous year.
CREA believes that the housing market picked up in the second half of last year, mainly due to a decline in the number of homes on the market, a trend that is expected to continue into this year. Last November, the national housing stock fell to its lowest level since mid-2007, and the housing shortage led to fierce competition among buyers, putting upward pressure on house prices.
Canadian mortgage and housing company (CMHC) believes that this year’s stable economic and population growth, supporting the housing market recovery, Toronto and Vancouver house price overvaluation concerns are dissipating.
CMHC estimates that the average price of Canada’s Multi-listing system (MLS) has risen to between 506200 and 531000 yuan this year, and house prices are expected to continue to rise this year and next, finally exceeding the 2017 peak. MLS home sales in Canada are estimated at between 480600 and 497700 units this year. CMHC said that national home sales last year were the same as the year before, and are expected to rise this year and next. New housing starts in Canada are estimated to be between 194000 and 204300 this year.
Canada’s two largest real estate agencies estimate that house prices will rise by 3.2% and 3.7% respectively this year.
The 2020 housing market outlook report said that more and more people are increasingly adapting to mortgage stress tests, and the older millennials are beginning to enter the peak period of life income and marriage, which will provide strong support for the housing market this year.
Prospective buyers who suspended and postponed home purchase plans due to mortgage stress tests began to return to the market, thus boosting market competition and demand. The slowdown in condo prices in recent years suggests that demand from young people is turning to the independent housing market, which is expected to reactivate the suburban housing market.