THE CANADIAN REAL ESTATE CRASH OF 2020? Will the fears come true

Описание: Is 2020 the year the Canadian real estate bubble finally pops? Are house prices in Canada due for a massive crash? Or are prices going to surge across the country? We are going to look at all the possibilities in my 2020 real estate market predictions.


Nationally most forecasts are projecting a 3.5% price increase for the real estate market, but I think that needs to be looked at on a more regional focus. Some of those red hot real estate markets like Toronto, Vancouver and Montreal are going to continue to be hot. The prairies might finally be seeing a slow recovery and the Maritimes with the exception of Halifax will also be flat.

Starting in Regina I am expecting a small price bump, maybe 1-2% but it will be very much the same as 2019, increasing sales will eat away at the oversupply that is pushing down prices.

In Manitoba, they are forecasting a small bump maybe 3% on the high end but likely another flat year.

Alberta much like Saskatchewan is pulling itself up out of a rut and is probably starting to get back to a more balanced market with improving sales and maybe a small price increase.

Out in BC Vancouver takes all the headlines and I expect that we will see the return of price increases after a few years of price declines. For the rest of BC, they are more commodity-based market and they have had a few good years in a row, I expect that to continue.

Out east in Ontario and Quebec, they have had hot markets now for a number of years, mainly driven by immigration and constrained supply. That trend isn’t going to change in 2020, prices are going to continue to climb. Toronto and Montreal are both hot markets there and their activity will drive the rest of their respective provinces strong markets.

The Maritimes have been flat for a number of years now, the exception to that being Halifax which has been pretty warm recently. I don’t see much changing that for 2020.

So wrapping things up is a story of regional differences. While it is far too easy to skim read the headlines of surging home prices in Canada that simply isn’t the case. When you only look at the large markets of Toronto, Vancouver, and Montreal, or even using them on a Canadian average it is too easy to have the numbers skewed. The Toronto real estate market especially has been booming for years driven by strong immigration and limited supply. You really have to break it down region by region. This is something I always stress but the media and governments want a simple headline and simple national policy. The Canadian real estate market is far too diverse and complex for headlines and simply policy. The best thing you can do to know exactly where your property is at and what is likely going to happen in your market this year is talk to a top real estate agent in your market.

Sources:
https://www.royallepage.ca/en/realest...

https://eppdscrmssa01.blob.core.windo...


Plus articles in the following publications: CBC, CTV, The Leader-Post, Toronto Star.

Data Light:    • CANADIAN PROVINCES NEW HOUSING PRICE INDEX...  

My name is Matthew Pfeifer and I am a realtor in Regina Saskatchewan working for Royal LePage Regina Realty. In nearly 10 years working as a real estate agent I have seen both ups and downs in the market. But there is no real estate market that you cannot buy or sell a house in. Often the media tries to present a Canadian real estate market or they talk about the real estate market in Canada as if there is a national market. With a country as vast and diverse as Canada trying to make predictions or reports about the Canadian real estate market is tough. I try in my market update to focus on the Regina perspective. But if you are looking for a more national perspective Royal LePage puts out great monthly reports across Canada as well as national reports on the Canadian real estate market. Even better if you are watching this from another city in Canada and want specific information about your specific real estate market, I would be happy to put you in touch with a great Royal LePage realtor in your region. I aim to be the top Regina realtor though my client service and belief in educating my clients about the Regina real estate market.

Royal LePage Regina Realty

If you want to learn more you can check out my Facebook page:   / matthewpfeif.  .

Or follow me on Instagram:   / matthew_pfe.  .

#TorontoRealEstate #RealEstateBubble #CanadianReal Estate