{"id":13145,"date":"2019-07-24T10:10:26","date_gmt":"2019-07-24T17:10:26","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=13145"},"modified":"2019-07-11T08:07:58","modified_gmt":"2019-07-11T15:07:58","slug":"canadian-major-housing-markets-point-to-a-sustained-recovery","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/","title":{"rendered":"Canadian Major Housing Markets Point to A Sustained Recovery"},"content":{"rendered":"<p style=\"text-align: justify;\">It\u2019s not just a blip on the Canadian housing radar.<\/p>\n<p style=\"text-align: justify;\">The recent stability seen in some of Canada\u2019s biggest markets is here to stay, suggests one of the country\u2019s leading real estate companies.<\/p>\n<p style=\"text-align: justify;\">The top executive of Royal LePage makes the observation with the release of the franchiser\u2019s national House Price Survey for the second quarter, according to which the median price of a Canadian home increased by 1.1 percent on a year-over-year basis.<\/p>\n<p style=\"text-align: justify;\">\u201cWe now have evidence of a sustained market recovery in some of the nation\u2019s largest markets, and signs of a price floor in other regions hit hard by the eighteen month-old housing correction,\u201d says Phil Soper, president and CEO of Royal LePage.<\/p>\n<p style=\"text-align: justify;\">Large markets in Ontario and Quebec bolstered numbers on the national level, a trend that is expected to play out for the rest of the year.<\/p>\n<p style=\"text-align: justify;\">In the second quarter, Greater Toronto\u2019s aggregate home price \u2014 a weighted average of median house and condo-apartment prices \u2014 was $841,729, up 2.6 percent annually.<\/p>\n<p style=\"text-align: justify;\">Meantime, Ottawa prices increased 6.2 percent year-over-year to $474,049 and Greater Montreal prices surged 5.8 percent $410,828, according to the survey of 63 local markets from coast to coast.<\/p>\n<p style=\"text-align: justify;\">Looking ahead, these markets are expected to carry the torch for the Canadian market.<\/p>\n<p style=\"text-align: justify;\">Royal LePage forecasts fourth-quarter Greater Toronto home prices will sit at $844,819 for an annual gain of 1.4 percent. The aggregate price is expected to rise 4.5 percent to $419,561 in Greater Montreal and 1.6 percent to $477,542 in Ottawa.<\/p>\n<p style=\"text-align: justify;\">Price gains weren\u2019t limited to central Canada. Atlantic Canada has shown renewed strength in some markets. Charlottetown\u2019s aggregate was $295,699 between April and June, up 3 percent, which was surpassed by Halifax\u2019s 3.4 percent rise to $328,023.<\/p>\n<p style=\"text-align: justify;\">\u201cOnly in the West do we see a significant number of home buyers remaining on the sidelines, depressing sales volumes and causing prices to sag,\u201d says Royal LePage\u2019s Soper.<\/p>\n<p style=\"text-align: justify;\">Greater Vancouver prices trended lower, with the aggregate slumping 4.1 percent to settle at $1,208,674. Calgary\u2019s aggregate plunged 5 percent to $460,089.<\/p>\n<p style=\"text-align: justify;\">The outlook for these markets looks somewhat brighter, as some job growth is expected in Alberta next year and BC\u2019s economy remains strong, signalling home sales \u2014 and eventually prices \u2014 may begin making up lost ground.<\/p>\n<p style=\"text-align: justify;\">Nonetheless, Royal LePage anticipates Q4 year-over-year drops of 5.5 percent for Greater Vancouver and 3.6 percent in Calgary.<\/p>\n<p style=\"text-align: justify;\">\u201cBuoyed by supportive economic conditions, many stubborn homeowners in B.C. and Alberta remain unwilling to let their precious real estate go for less than what they perceive as fair value, which has gone a long way to protecting existing home values,\u201d he adds.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2019\/07\/evidence-sustained-recovery-major-canadian-housing-markets.html\" target=\"_blank\" rel=\"noopener noreferrer\">New Evidence Points to A Sustained Recovery in Major Canadian Housing Markets<\/a> by Josh Sherman | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s not just a blip on the Canadian housing radar. The recent stability seen in some of Canada\u2019s biggest markets is here to stay, suggests one of the country\u2019s leading &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/\">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-13145","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Major Housing Markets Point to A Sustained Recovery &#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\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canadian Major Housing Markets Point to A Sustained Recovery &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"It\u2019s not just a blip on the Canadian housing radar. The recent stability seen in some of Canada\u2019s biggest markets is here to stay, suggests one of the country\u2019s leading &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/canadian-major-housing-markets-point-to-a-sustained-recovery\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/canadian-major-housing-markets-point-to-a-sustained-recovery\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Canadian Major Housing Markets Point to A Sustained Recovery\",\"datePublished\":\"2019-07-24T17:10:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/canadian-major-housing-markets-point-to-a-sustained-recovery\\\/\"},\"wordCount\":447,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/canadian-major-housing-markets-point-to-a-sustained-recovery\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/canadian-major-housing-markets-point-to-a-sustained-recovery\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/canadian-major-housing-markets-point-to-a-sustained-recovery\\\/\",\"name\":\"Canadian Major Housing Markets Point to A Sustained Recovery &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2019-07-24T17:10:26+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/canadian-major-housing-markets-point-to-a-sustained-recovery\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/canadian-major-housing-markets-point-to-a-sustained-recovery\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2019\\\/07\\\/canadian-major-housing-markets-point-to-a-sustained-recovery\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Canadian Major Housing Markets Point to A Sustained Recovery\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Canadian Major Housing Markets Point to A Sustained Recovery &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/","twitter_card":"summary_large_image","twitter_title":"Canadian Major Housing Markets Point to A Sustained Recovery &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"It\u2019s not just a blip on the Canadian housing radar. The recent stability seen in some of Canada\u2019s biggest markets is here to stay, suggests one of the country\u2019s leading &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Canadian Major Housing Markets Point to A Sustained Recovery","datePublished":"2019-07-24T17:10:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/"},"wordCount":447,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/","url":"https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/","name":"Canadian Major Housing Markets Point to A Sustained Recovery &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2019-07-24T17:10:26+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/canadian-major-housing-markets-point-to-a-sustained-recovery\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Canadian Major Housing Markets Point to A Sustained Recovery"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/13145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=13145"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/13145\/revisions"}],"predecessor-version":[{"id":13146,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/13145\/revisions\/13146"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=13145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=13145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=13145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}