RE/Max Fall Market Outlook for Fall 2020
Saturday Aug 22nd, 2020Share
In a recent report put out by RE/MAX, they are saying that RE/MAX Brokers and Agents across Canada are anticipating continued strong market activity through the remainder of 2020, with the average residential sale price in Canada expected to increase by 4.6%.
Canadians are showing greater interest in rural properties and suburban homes. The desire for more space for personal amenities, like a pool, big yard.
The report also indicates that Canadians are reevaluating their living situations, especially those under 55.
Ontario being one of the hardest-hit provinces in Canada, bounced back aggressively in June as economies began reopening.
The RE/MAX Broker network in Ontario, is predicting that market activity in this province is estimated to remain steady in the fall, with the potential for modest price increases (those price increases varying from location to location).
According to this Report, the key findings are as follows:
Canadian housing prices anticipated to increase by 4.6% in the third and fourth quarter according to RE/MAX Brokers and Agents; Compared to the earlier prediction by RE/MAX Brokers and Agents of +3.7% at the start of the year.
32% of Canadians no longer want to live in urban centres, opting for rural or suburban communities instead.
Canadians are almost equally split in their confidence in Canadian housing market, with 39% as confident as they were before the pandemic, and 37% slightly less confident.
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Jennifer Foley Real Estate Broker Re/Max Rouge River Realty Ltd Brokerage
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