{"id":13770,"date":"2019-10-01T10:10:38","date_gmt":"2019-10-01T17:10:38","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=13770"},"modified":"2019-09-25T16:29:26","modified_gmt":"2019-09-25T23:29:26","slug":"canadian-housing-market-anticipates-positive-home-sales-growth-in-2020","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/10\/canadian-housing-market-anticipates-positive-home-sales-growth-in-2020\/","title":{"rendered":"Canadian Housing Market Anticipates Positive Home Sales Growth in 2020"},"content":{"rendered":"<p style=\"text-align: justify;\">Home sales rose Canada-wide for the sixth straight month in August, leading one of the country\u2019s largest real estate industry groups to increase its 2019 sales forecast on the back of the sustained strong results.<\/p>\n<p style=\"text-align: justify;\">According to Canadian Real Estate Association (CREA) data and commentary released last week, the impacts of the new mortgage rules introduced in 2018 are running their course and the market adjustment is entering a new stage that will see more sidelined buyers return to the market.<\/p>\n<p style=\"text-align: justify;\">The five percent annual sales growth recorded in August and positive overall economic outlook prompted TD economist Rishi Sondhi to note that the Canadian housing recovery still \u201chas further room to run\u201d into 2020.<\/p>\n<p style=\"text-align: justify;\">\u201cThe beneficial combination of solid job markets, rising household incomes, healthy population growth, further distance from restrictive government policies and low mortgage rates have given a boost to demand,\u201d Sondhi writes in a housing note published by TD Economics last week.<\/p>\n<p style=\"text-align: justify;\">\u201cAnd, with sales still somewhat low compared to population and employment levels, the recovery likely has further room to run. Our forecast anticipates positive sales growth through next year, contingent on the economy and job markets holding up,\u201d he continues.<\/p>\n<p style=\"text-align: justify;\">The outlook has certainly improved for the Canadian housing market since the tumult experienced in 2018 following the extraordinary ramp up in sales activity and prices through 2017 that eventually spurred intervention from the federal government as well as the two provincial governments home to the country\u2019s hottest markets \u2014 Toronto and Vancouver.<\/p>\n<p style=\"text-align: justify;\">That said, Sondhi cautioned that even as the strength exhibited over the last six months has caused housing markets to tighten across the country, growth expectations in Canada\u2019s most expensive markets should be tempered by existing affordability challenges that will cap price gains.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2019\/09\/canadian-home-sales-2020.html\" target=\"_blank\" rel=\"noopener noreferrer\">Canadian Home Sales Have &#8220;Room to Run&#8221; in 2020<\/a> by Sean MacKay | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home sales rose Canada-wide for the sixth straight month in August, leading one of the country\u2019s largest real estate industry groups to increase its 2019 sales forecast on the back &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/10\/canadian-housing-market-anticipates-positive-home-sales-growth-in-2020\/\">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-13770","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 Housing Market Anticipates Positive Home Sales Growth in 2020 &#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\/10\/canadian-housing-market-anticipates-positive-home-sales-growth-in-2020\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canadian Housing Market Anticipates Positive Home Sales Growth in 2020 &#8226; 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