<<< back to article list

Canadian home sales have ‘room to run’ in 2020

  • +1

Blog by Rob MacPherson | September 26th, 2019

Canadian home sales have ‘room to run’ in 2020

Home sales rose Canada-wide for the sixth straight month in August, leading one of the country’s largest real estate industry groups to increase its 2019 sales forecast on the back of the sustained strong results.

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.

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 “has further room to run” into 2020.

“The 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,” Sondhi writes in a housing note published by TD Economics last week.

“And, 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,” he continues.

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’s hottest markets — Toronto and Vancouver.

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’s most expensive markets should be tempered by existing affordability challenges that will cap price gains.

Source: Livabl https://www.livabl.com/2019/09/canadian-home-sales-2020.html


real estate management companies  

rental management          

commercial real estate management 

commercial property management    

property manager 

real estate management    

real estate manager          

property management       

apartment building management      

rental property management           

real estate property management     

property management companies     

residential property management     

real property management 

property management association    

property management fees 

commercial property management companies  

property managers           

real estate management company    

property management agreement     

property management services        

property managment         

apartment property management     

real estate management services     

rental property management companies         

rental property manager    

realty property management           

certified property manager  

property management rentals          

real estate property management companies   

apartment property management companies   

top property management companies