RE/MAX Releases 2019 Housing Market Outlook Report
The 2019 RE/MAX Housing Market Outlook Report is out!
“Modest price increases are expected in 2019, as the report estimates the average price to increase by 1.7 per cent.”
Finding’s in this year’s report:
- Housing markets across the country have stabilized in 2018, after the unprecedented increases in average sales price that many markets experienced in 2017.
- However, there continue to be some outliers in 2018 average sales price gains, particularly in areas outside of the main city centres, such as Chilliwack (+ 13%), Windsor (+13%), London (+17%) and Charlottetown (+11%).
- It is anticipated that the market will continue to stabilize, as Canadians will start to feel the pinch of higher interest rates as they move forward with their home-buying plans in 2019.
- A recent survey revealed almost one-third (31 per cent) of Canadians said higher interest rates have not affected their ability to get an affordable mortgage thus far. However, this is expected to change in 2019.
- A separate survey of RE/MAX brokers and agents found 83 per cent predict rising interest rates will make it more difficult for Canadians to purchase a home next year.
Read the full report here.
We’ve also created a video summary of that report that you can download and share on social media! Click here.
Each city section covered in this year’s report can be customized in Design Center! Simply search: “Housing Market Outlook Report”
If you have any questions about this year’s Housing Market Outlook Report, contact:
RE/MAX of Western Canada