{"id":16874,"date":"2020-11-23T11:11:00","date_gmt":"2020-11-23T19:11:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=16874"},"modified":"2020-11-05T15:01:32","modified_gmt":"2020-11-05T23:01:32","slug":"highest-confidence-optimism-in-canadas-housing-markets","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/","title":{"rendered":"Highest Confidence &#038; Optimism in Canada&#8217;s Housing Markets"},"content":{"rendered":"<p style=\"text-align: justify;\">Canadians have expressed optimism in the country\u2019s real estate market, even in spite of the COVID-19 pandemic wreaking havoc on the economy, research from Bloomberg-Nanos shows.<\/p>\n<p style=\"text-align: justify;\">Forty-five percent of survey respondents believe home values in their neighbourhoods will increase in the next six months, while 36% think values will be flat, and 13% expect decreases. Six percent of survey respondents were unsure.<\/p>\n<p style=\"text-align: justify;\">The results, derived from a late October survey, represent the highest showing since the pandemic began in March.<\/p>\n<p style=\"text-align: justify;\">\u201cIn terms of consumer confidence, real estate is still a great asset to invest in here in Canada because we don\u2019t have too many options\u2014the stock market is turbulent, for example, so where else would we invest?\u201d said Alex Balikoev, senior vice president of sales at Sotheby\u2019s International Realty Canada, adding that the pandemic hasn\u2019t made Canadians any less bullish about real estate.<\/p>\n<p style=\"text-align: justify;\">\u201cWhat we\u2019re seeing right now in Ontario is people fleeing big cities and going to the suburbs or the country, and the small markets outside of Toronto are booming, as are the city\u2019s suburbs, where the detached market is hot.\u201d<\/p>\n<p style=\"text-align: justify;\">Rahkee Dhingra, CEO of Mortgage Savvy, told CREW that the pandemic hasn\u2019t much dissuaded people from buying homes, largely because interest rates have been cut to historic lows in a bid to stimulate the economy.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019re busier than ever; we\u2019re doing a lot of preapprovals and active transactions,\u201d she said. \u201cI\u2019m always gauging to see where we are on the preapproval side for our pipeline of future business, and we\u2019re on pace for our busiest November yet, even though November and December are usually the slowest months of the year.\u201d<\/p>\n<p style=\"text-align: justify;\">Dhingra added that people are looking to upgrade now that they\u2019re spending more time at home.<\/p>\n<p style=\"text-align: justify;\">\u201cI\u2019m doing a lot of coaching calls with first-time buyers and a lot of existing homeowners looking for more space. We\u2019re closing deals within three or four weeks.\u201d<\/p>\n<p style=\"text-align: justify;\">While consumer confidence in the real estate market is surprisingly high considering the economy nosedived this year, the condo markets in Toronto and Vancouver haven\u2019t fared as well. But Balikoev says there\u2019s another way of looking at Toronto\u2019s condo market\u2014the country\u2019s largest\u2014where the deceleration of activity is impermanent.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019re going to see a strong rebound in three to four years, guaranteed, because immigrants will have returned to the country, and they\u2019re major drivers in Toronto\u2019s condo rental market,\u201d he said. \u201cSome builders aren\u2019t launching this year, instead delaying a year or two, meaning that four years from now we\u2019re not going to have all the housing units that were originally planned, and there\u2019s going to be a huge shortage. The shortage will drive prices up.\u201d<\/p>\n<p style=\"text-align: justify;\">Balikoev noted that this has happened before.<\/p>\n<p style=\"text-align: justify;\">\u201cThis happened in 2016 when prices exploded and some builders delayed their launches, which inflated prices even more.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/market-confidence-highest-since-q1-bloombergnanos-334331.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">Bloomberg-Nanos : Market Confidence Highest Since Q1<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadians have expressed optimism in the country\u2019s real estate market, even in spite of the COVID-19 pandemic wreaking havoc on the economy, research from Bloomberg-Nanos shows. Forty-five percent of survey &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/\">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-16874","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>Highest Confidence &amp; Optimism in Canada&#039;s Housing Markets &#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\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Highest Confidence &amp; Optimism in Canada&#039;s Housing Markets &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Canadians have expressed optimism in the country\u2019s real estate market, even in spite of the COVID-19 pandemic wreaking havoc on the economy, research from Bloomberg-Nanos shows. Forty-five percent of survey &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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/highest-confidence-optimism-in-canadas-housing-markets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/highest-confidence-optimism-in-canadas-housing-markets\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Highest Confidence &#038; Optimism in Canada&#8217;s Housing Markets\",\"datePublished\":\"2020-11-23T19:11:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/highest-confidence-optimism-in-canadas-housing-markets\\\/\"},\"wordCount\":512,\"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\\\/2020\\\/11\\\/highest-confidence-optimism-in-canadas-housing-markets\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/highest-confidence-optimism-in-canadas-housing-markets\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/highest-confidence-optimism-in-canadas-housing-markets\\\/\",\"name\":\"Highest Confidence & Optimism in Canada's Housing Markets &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2020-11-23T19:11:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/highest-confidence-optimism-in-canadas-housing-markets\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/highest-confidence-optimism-in-canadas-housing-markets\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/11\\\/highest-confidence-optimism-in-canadas-housing-markets\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Highest Confidence &#038; Optimism in Canada&#8217;s Housing Markets\"}]},{\"@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":"Highest Confidence & Optimism in Canada's Housing Markets &#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\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/","twitter_card":"summary_large_image","twitter_title":"Highest Confidence & Optimism in Canada's Housing Markets &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Canadians have expressed optimism in the country\u2019s real estate market, even in spite of the COVID-19 pandemic wreaking havoc on the economy, research from Bloomberg-Nanos shows. Forty-five percent of survey &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Highest Confidence &#038; Optimism in Canada&#8217;s Housing Markets","datePublished":"2020-11-23T19:11:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/"},"wordCount":512,"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\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/","url":"https:\/\/www.roryc.ca\/blog\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/","name":"Highest Confidence & Optimism in Canada's Housing Markets &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2020-11-23T19:11:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2020\/11\/highest-confidence-optimism-in-canadas-housing-markets\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Highest Confidence &#038; Optimism in Canada&#8217;s Housing Markets"}]},{"@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\/16874","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=16874"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/16874\/revisions"}],"predecessor-version":[{"id":16875,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/16874\/revisions\/16875"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=16874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=16874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=16874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}