Nearly 70% of Canadians are Nervous About The Real Estate Market

Under Market Updates

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July 15th, 2019

Housing is a national concern in Canada.

Recently, Century 21 Canada surveyed more than 1,000 of its realtors to gauge sentiments towards Canadian real estate.

Some 18.1 percent of agents say their clients are “very concerned” when it comes to their local market, while 50.2 say they are “somewhat concerned.”

Only 1.6 percent responded saying their clients are “excited,” although 16 percent had clients who were “neutral” and 14 percent were “optimistic.”

“These results are consistent with what Canadians are hearing from other sources about how the market has been faring over the last year, with some important insights that can be drawn from real estate agents working with clients in communities across Canada,” says Brian Rushton, executive vice president of Century 21 Canada, in a statement.

Opinions vary between homebuyers and sellers. A 57.7 percent share of agents say their buyer clients are “excited or calm”, versus 28.8 percent in the concerned camp when it comes to prices or taxes.

Sellers had a gloomier outlook, the survey suggests, with 38.7 percent nervous about prices or taxes and 38.6 percent expressing excitement or calm outlooks.

These weren’t the only differences to emerge from the survey. Buyers in Atlantic Canada, for example, were most excited about their prospects, with 61.7 percent of regional realtors reporting this view.

Meantime, sellers in the Prairies were most concerned about prices and taxes. Some 46.3 percent of realtors report this is the general sentiment among clients.

“The regional differences in the data are striking, and we also heard some interesting anecdotes from agents,” says Rushton.

“For example, some neighbourhoods in Ottawa and Regina are bucking the trend and are hot sellers markets, as are some suburbs of metropolitan centres like Vancouver as people are moving farther out from the core,” he continues.

Nearly 70% of Canadians are Nervous About The Real Estate Market by Josh Sherman | Livabl

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