Housing Outlook 2018

 

There is allot of mixed reviews from buyers and sellers about the immediate future of our real estate market. There are many factors some of which will positively affect the market while others are sure to put a damper on it. The one thing I know for sure is it’s not been favourable to bet against Vancouver real estate over the last 15 years except for a couple of short slips in the market in that period.

Findings in this year’s report:

  • This past year saw the single-family detached home and condo markets diverge on distinctly different paths in Canada’s two highest-priced real estate markets: Greater Vancouver and the Greater Toronto Area
  • As oil prices continue to stabilize, both Calgary and Edmonton have experienced modest average residential sale price increases in 2017
  • The new OSFI mortgage qualification rules that come into effect on Jan. 1, 2018impacted housing market activity toward the end of this year and are expected to slow activity in real estate markets across Canada in the first part of 2018
  • Canadians continue to look for balance between affordability and amenities outside of major urban centres
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