{"id":10835,"date":"2018-11-19T10:10:16","date_gmt":"2018-11-19T18:10:16","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10835"},"modified":"2018-11-10T09:21:35","modified_gmt":"2018-11-10T17:21:35","slug":"what-the-next-2-years-will-look-like-for-the-canadian-housing-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/11\/what-the-next-2-years-will-look-like-for-the-canadian-housing-market\/","title":{"rendered":"What The Next 2 Years will Look Like for The Canadian Housing Market"},"content":{"rendered":"

The Canadian housing market will see activity moderate over the next two years, according to the latest forecast from the Canada Mortgage and Housing Corporation (CMHC).<\/p>\n

The federal housing organization is predicting a flattening of sales and prices in 2019, with the average national home sale price coming in somewhere between $501,400 and $521,600.<\/p>\n

\u201cOur key takeaway from this year\u2019s outlook is moderation in Canada\u2019s housing markets for 2019 into 2020,\u201d writes Bob Dugan, chief economist of the CMHC, in a statement.<\/p>\n

Dugan notes that home resale numbers in 2019 and 2020 will remain below recent peaks, while prices should moderate to fit lower income, job and population growth numbers.<\/p>\n

The organization\u2019s forecast varies from region to region. It predicts that BC will see a \u201cflatter growth profile\u201d over the next two years, as economic and population growth slows. Metro Vancouver\u2019s resale market is expected to see lower sales numbers and higher inventory levels, providing some relief to the famously pricey market.<\/p>\n

Meanwhile, the Ontario market is expected to make a \u201cpartial recovery\u201d in 2019, as buyers re-enter the job market on the back of expected job growth and strong migration numbers.<\/p>\n

\u201cWith balanced conditions prevailing in the GTA, we expect moderate sales growth and home prices growing in line with inflation over the forecast horizon,\u201d writes Dugan.<\/p>\n

He adds that new home development should add supply to the market, giving buyers more choice, at least when it comes to high density housing.<\/p>\n

But while Toronto and Vancouver may have cooler activity levels in their futures, the notably hot Montreal market is expected to continue to post strong sales numbers in the new year.<\/p>\n

\u201cDemand [in the city] will be supported by rising net migration over the forecast horizon,\u201d writes Dugan.<\/p>\n

Here’s What The Next 2 Years will Look Like for The Canadian Housing Market<\/a> by Sarah Niedoba | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"

The Canadian housing market will see activity moderate over the next two years, according to the latest forecast from the Canada Mortgage and Housing Corporation (CMHC). The federal housing organization … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10835","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"\nWhat The Next 2 Years will Look Like for The Canadian Housing Market • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/11\/what-the-next-2-years-will-look-like-for-the-canadian-housing-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"What The Next 2 Years will Look Like for The Canadian Housing Market • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The Canadian housing market will see activity moderate over the next two years, according to the latest forecast from the Canada Mortgage and Housing Corporation (CMHC). 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