1. Canadian Real Estate Market To Remain Strong In 2014
According to a new report by PwC and Urban Land Institute, the real estate market in 2014 will remain strong, especially in Toronto and Calgary.
The report states that:
- Demand for retail, office and residential space near public transit will continue.
- Rental apartments haven’t been negatively affected by condominium developments, and still remain an attractive investment.
2. Canada housing market to stay the course in 2014
Few predicted 2013 would turn out as well as it did for Canada’s housing market.
Around this time last year, sales were slipping and sellers were worried they may have missed the opportunity to make a decent profit on their homes. Buyers, meantime, were starting to feel like they had the upper hand.
The market then unexpectedly picked up over the summer and into the early fall. Cities such as Vancouver and Toronto rebounded sharply, and prices stabilized in many cities across Canada.
3. Canadian housing market faces crucial spring test
New home construction plummeted in March, prompting at least one real estate doomsayer to predict an even larger decline is in the cards for the Canadian housing market.
At the same time, one of Canada’s largest real estate companies released its latest quarterly report maintaining all is well in the market with prices still going up, albeit with some caution about the condominium sector.
4. CREA Updates Resale Housing Forecast
The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2013 and 2014.
Stronger than expected activity through summer and early autumn was widely thought to reflect the transient influence of buyers with pre-approved mortgage financing making purchases before their lower pre-approved rates expired. A drop-off in sales during the fourth quarter to date further suggests this was indeed the case.