iDEALtoronto

  • Listings
    • Exclusive listings
    • Commercial
      • For Sale
      • For Lease
    • Residential
      • For Sale
      • For Lease
    • Condos
      • For Sale
      • For Lease
  • New Projects
  • Finance
    • Mortgage Calculator
    • Mortgage Rates Charts
    • Mortgage Rate Comparison
    • CMHC Insurance Calculator
    • Land Transfer Tax Calculator
  • Blog
    • Market Updates
    • Events
    • News
    • Community
  • eBooks
  • About Us
    • Contact Us
    • Team Directory

News

Canadian Housing Market Outlook

By

Rod Limoochi

Posted in Market Updates On Oct 06, 2021

Canadian housing market expected to remain strong this fall, despite Delta variant, say RE/MAX brokers and realtors

Young families driving demand for single-detached homes in cities across the country

  • Canadian housing market prices are anticipated to increase by 5% in the remaining months of 2021, according to RE/MAX brokers and agents.
  • 26/29 major Canadian housing markets analyzed are seller’s markets, driven by lack of supply and high demand.

Toronto, ON and Kelowna, BC, October 5, 2021 – Early indicators from RE/MAX brokers and agents across the Canadian housing market suggest steady activity for the remainder of 2021. According to the RE/MAX Canada 2021 Fall Housing Market Outlook Report, RE/MAX brokers and agents expect the average residential sale price for all home types could increase by five per cent from now until the end of the year.

Single-detached homes experienced the biggest price gains when comparing 2021* to 2020 data, rising between 6.8 and 27.3 per cent across 26 markets surveyed in the report. RE/MAX brokers and agents expect this trend to continue into the fall, driven by strong demand by young families.

“As our brokers and agents predict, the fall market activity is expected to remain steady, which is promising, despite the ongoing challenges presented by the Delta variant,” says Christopher Alexander, Senior Vice President, RE/MAX Canada. “This is particularly relevant given the Canadian housing markets is often a good indicator of economic activity in the country, and with the Bank of Canada forecasting economic growth of 4.5 per cent in 2022, a strong fall housing market is a good sign that things may be starting to return to a more natural rhythm.”


Regional Canadian Housing Market Overview

Ontario

Unsurprisingly, Ontario has seen some of the highest average residential price increases across single-detached homes in the country, with the majority of regions (13 out of 16), experiencing increases between 20 and 35.5 per cent YoY. The outlier markets that experienced price increases below 20 per cent include Toronto (+14.6 per cent), Thunder Bay (+17.1 per cent) and Mississauga (+19.7 per cent).

The condo and townhome segment in all of these regions has also performed well, with smaller and more suburban markets such as Kitchener, North Bay, London, Peterborough, and Southern Georgian Bay seeing a higher surge YoY. The estimated price outlook for the remainder of the year ranges from a two-per-cent price decrease in North Bay, to increases across the other regions ranging between two and 15 per cent.

Leave a Reply Cancel reply

You must be logged in to post a comment.

Agents

Rod-limoochi-iDEALtoronto-team-circle

Rod Limoochi

limoochi@iDEALtoronto.com
416-716-8767
Joyce-Hsu-iDEALtoronto-team-circle

Joyce Hsu

joyce@iDEALtoronto.com
647-278-8888
tracyContact-circle

Tracy Jia 贾小旗

tracy@iDEALtoronto.com
647-527-8186
Ken-Li-iDEALtoronto-team-circle

Ken Li

ken@iDEALtoronto.com
437-788-8886
Ali-Rezakarimi-iDEALtoronto-team-circle

Ali Karimi

ali@iDEALtoronto.com
416-697-2703
Remax condos plus logo
About Us
Contact Us
Home Valuation
+1 (416) 716-8767
chairmans Team Logo white   remax logo hall of fame     remax logo hall of fame
children's miracle hospitals

All Rights Reserved 2021 © iDEALtoronto. 991 Bay St, Toronto, ON M5S 3C4, Canada

Terms Of Use | Privacy Policy | Sitemap

Owning a home is a keystone of wealth… both financial affluence and emotional security.

Suze Orman
6th February 2023 Monday!
iDEALtoronto
  • Login
Forget Password?

iDEALtoronto Logo
  • Listings
    • Exclusive listings
    • Commercial
      • For Sale
      • For Lease
    • Residential
      • For Sale
      • For Lease
    • Condos
      • For Sale
      • For Lease
  • New Projects
  • Finance
    • Mortgage Calculator
    • Mortgage Rates Charts
    • Mortgage Rate Comparison
    • CMHC Insurance Calculator
    • Land Transfer Tax Calculator
  • Blog
    • Market Updates
    • Events
    • News
    • Community
  • eBooks
  • About Us
    • Contact Us
    • Team Directory