What To Expect From Canada's Real Estate Market This Spring

Opportunity

According to the Canadian Real Estate Association (CREA), in January 2016, the national average selling price jumped by 17 per cent year-over-year which is a significant increase. However, if Ontario and British Columbia were unaccounted for, the national average sale price would have decreased by 0.3 per cent.

The housing sectors and economy in Calgary, Edmonton and Saskatoon are feeling the effect of the extended slowdown in gas and oil which is not great news for existing homeowners.

However, this means opportunity for potential buyers. Usually, buyers may not be attracted to prices of homes declining but looking at the longer term may provide them with a positive outlook. In Calgary, prices of homes increased 14.29 per cent over the last three years and in Saskatoon, prices increased by 2.07 per cent.er cent. According to the Canadian Home Builders' Association, CHBA, it is a great time to purchase a home in Calgary.

Toronto's Economy

According to the Conference Board of Canada, a not-for profit applied research organization in Canada, Toronto is predicted to be one of Canada's growth leaders again this year.

Toronto's economy is anticipated to grow by 2.8 per cent. This will make the city the third fastest growing metropolitan economy in the country this year.

Hamilton is also expected to have a strong year and is expected to grow by 2.2 per cent this year.

Reference: Huffington Post Canada

http://www.huffingtonpost.ca/…/canada-housing-market_b_9417…