To help prepare you and your clients for another successful year ahead, we are thrilled to announce that we have just released the 2020 RE/MAX Housing Market Outlook Report! See the findings below and share the results for your region with clients and prospects alike.
- Average home price expected to rise by 3.7% next year
- Increased consumer confidence could be a key factor affecting the housing market in 2020
- 51% of Canadians are considering a home purchase in the next five years, up from 36% at the same time last year
- Only two in 10 Canadians say that the mortgage stress test negatively affected their ability to purchase a home in 2019
RE/MAX is calling for a leveling out of the highs and lows that characterized the Canadian housing market in 2019, particularly in Vancouver and Toronto, as we move into 2020. Healthy price increases are expected next year, with the RE/MAX 2020 Housing Market Outlook Report estimating a 3.7 per-cent increase in the average residential sale price. Most individual markets surveyed across Canada experienced moderate price increases year-over-year from 2018 to 2019. However, some regions in Ontario continue to experience higher-than-normal gains, including London (+10.7 per cent), Windsor (+11 per cent), Ottawa (+11.7 per cent) and Niagara (+12.9 per cent).
Click & download your region’s infographic and share to your social channels!
Fifty-one per cent of Canadians are considering buying a property in the next five years. This is up from 36 per cent at the same time last year. The increase is attributed to consumers’ adjustment to the mortgage stress test and increased purchasing power. Only two in 10 survey respondents said the mortgage stress test has negatively impacted their ability to purchase a home.
Liveability continues to be important to Canadians, with more than half wanting to live closer to green spaces and shopping/dining locations. Specific figures:
• 62% of Canadians would like to live near shopping/dining locations
• 59% would like to live closer to green spaces
• 30% would like to live closer to work
• 36% would like to live closer to public transit
How to Use the Report:
RE/MAX Reports are distributed throughout the year and are designed to educate the public and our network on industry insights. A full download of the report and press release are always available on remax.ca.
- Provide a copy of your region page in your listing presentations
- Make a copy available at your next open house
- Ensure your region page is available for clients to browse at your office
- Share with your network via email
- Encourage clients and prospects to view the report on social media by sharing the video
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Other notable mentions: