According to a RE/MAX market report, real estate deals should continue throughout the fall, with prices rising an average of 5% across the country.
When comparing 2021* to 2020 statistics, single-detached homes saw the largest price increases, jumping between 6.8% and 27.3 percent across the 26 regions surveyed in the report. This trend, driven by high demand from young families, is expected to continue into the fall, according to RE/MAX brokers and agents.
“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.”