As per the September 21st, 22 article released by RE/MAX Canada, the Canadian real estate market is in a state of flux right now.
The Canadian real estate market is in a state of flux right now.
It is hard to fathom that Canada’s housing sector recorded unprecedented gains a year ago – from tremendous sales activity to enormous price growth – and now the industry is in the middle of a sharp correction. Every market analyst and financial institution has offered a forecast of how much more the country’s real estate market could fall. The Royal Bank of Canada (RBC) projects a 25-per-cent decline by the end of next year, while Desjardins economists anticipate a 20-per-cent drop over the next year.
Whatever the case may be, the Canadian real estate market – be it major urban centres or cottage country – is going through an exceptional transition. Nobody knows when the trend will turn and when the next expansionist cycle will begin.
So, what is going on exactly? Here is a list summarizing what you need to know about today’s market.
Read RE/MAX Canada’s Full Article HERE:
Read the Full RBC Monthly Housing Market Update HERE:
