{"id":11230,"date":"2018-12-26T10:10:56","date_gmt":"2018-12-26T18:10:56","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11230"},"modified":"2018-12-19T09:15:06","modified_gmt":"2018-12-19T17:15:06","slug":"the-top-performing-canadian-housing-markets-of-2018","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/12\/the-top-performing-canadian-housing-markets-of-2018\/","title":{"rendered":"The Top Performing Canadian Housing Markets of 2018"},"content":{"rendered":"<p style=\"text-align: justify;\">With under a month left in the year, a picture of the Canadian housing market\u2019s clear winners \u2014 and losers \u2014 is quickly emerging.<\/p>\n<p style=\"text-align: justify;\">Following the Canadian Real Estate Association (CREA)\u2019s release of November home sales data today, BMO ranks the country\u2019s biggest markets in terms of how average prices have performed over the past 11 months.<\/p>\n<p style=\"text-align: justify;\">Montreal has outperformed all other major markets, with prices up 5.5 percent so far this year, followed by Ottawa, where prices have grown by 3.6 percent.<\/p>\n<p style=\"text-align: justify;\">\u201cWith solid market balances and steady underlying economies, we expect these cities to remain generally healthy in 2019,\u201d writes Douglas Porter, BMO\u2019s chief economist, in a report.<\/p>\n<p style=\"text-align: justify;\">BMO notes that the hottest markets in the country are actually mid-sized Ontario cities, with home prices in London and Windsor surging by double digits, the only cities in the country to achieve this rate of growth.<\/p>\n<p style=\"text-align: justify;\">Prices were up 2.1 percent in Halifax, while Winnipeg and Vancouver have both seen gains of 1.8 percent from January to November.<\/p>\n<p style=\"text-align: justify;\">For Vancouver at least, it appears the number is set to drop as sales in November plummeted 42 percent on a year-over-year basis.<\/p>\n<p style=\"text-align: justify;\">\u201cPrices are gearing down,\u201d says Porter, noting how far sales activity has fallen from a year ago, partly the result of provincial policy such as the increased foreign-homebuyer tax.<\/p>\n<p style=\"text-align: justify;\">The remaining four markets all recorded year-to-date price drops, led by the country\u2019s most-active housing market, Toronto.<\/p>\n<p style=\"text-align: justify;\">Toronto home prices have dropped 4.8 percent this year \u2014 faring worse than the national average, which was down 4.1 percent \u2014 while sales are off last year\u2019s tally achieved over the same period by 16 percent.<\/p>\n<p style=\"text-align: justify;\">\u201cNotably, with the late-year pullback in sales, the GTA\u2019s market balance is below the national average, suggesting there is no quick turn on the horizon,\u201d says Porter.<\/p>\n<p style=\"text-align: justify;\">Declines in Regina weren\u2019t far off at 4.2 percent, while Edmonton prices tumbled 1.6 percent. Meantime, Calgary prices declined by 1.2 percent.<\/p>\n<p style=\"text-align: justify;\">\u201cThe soggy story is echoed across most of the Prairies, which generally struggled through a tough year,\u201d Porter notes, adding worries over slumping oil prices once again roiled Calgary\u2019s market in November.<\/p>\n<p style=\"text-align: justify;\">\u201cThe more recent rebound in Canadian oil prices may put a floor under confidence, but with global prices hovering around their lows for the year, we wouldn\u2019t look for a big snap-back in oil-related cities in 2019,\u201d he explains.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2018\/12\/top-performing-canadian-housing-markets-2018.html\">These Are The Top Performing Canadian Housing Markets of 2018<\/a> by Josh Sherman | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With under a month left in the year, a picture of the Canadian housing market\u2019s clear winners \u2014 and losers \u2014 is quickly emerging. Following the Canadian Real Estate Association &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/12\/the-top-performing-canadian-housing-markets-of-2018\/\">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-11230","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Top Performing Canadian Housing Markets of 2018 &#8226; 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\/12\/the-top-performing-canadian-housing-markets-of-2018\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Top Performing Canadian Housing Markets of 2018 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"With under a month left in the year, a picture of the Canadian housing market\u2019s clear winners \u2014 and losers \u2014 is quickly emerging. 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