February 21, 2013: Against a backdrop of strong equity gains and lower interest rates, move-up buyers are once again set to ramp up their role in major Canadian housing markets, according to a report released today by Re/Max. Click here for the full report.
The Re/Max Move-Up Buyers Report found that activity in traditional move-up price ranges have climbed year-over-year (2012 vs 2011) in 87 per cent (14) of the (16) markets examined - a trend expected to continue throughout 2013. The only exceptions were Victoria and Vancouver, where softer sales activity was reported. Driving the upward movement has been substantial price appreciation in most major centres. The average Canadian home has escalated 93 per cent over the past decade; individual markets experienced increases ranging from 62 per cent in Saint John (4.96 per cent compounded annually) to 199 per cent in Regina (11.57 per cent compounded annually).
The Re/Max report notes gains have been muted over the last five-year-period, with most centres hovering at an annual appreciation rate of five per cent. Regina and Winnipeg once again bucked the trend, reporting a 12.7 per cent and 8.39 per cent annual increase respectively, while St. John's recorded an annual compounded gain of 11.08 per cent over the past four years.
RE/MAX HOUSING MARKET OUTLOOK 2013
November 14, 2012: Canadian real estate markets demonstrated remarkable resilience in 2012 - with home sales up or on par in 65 per cent of major centres - despite considerable headwinds in terms of tighter financing and economic uncertainty abroad. The trend is expected to continue, with home-buying activity propped-up by low interest rates and an improved economic picture in 2013, according to a report released today by Re/Max. Click here for the full report.
Canadian home sales are expected to almost mirror the 2012 performance next year, holding steady at 454,000 units. The average price of a Canadian home is expected to remain stable at $364,000 in 2012 - on par with the figure reported in 2011. Values are expected to appreciate nominally in 2013, rising to $366,500, one per cent above year-end 2012 levels.
Immigration and population growth will continue to support housing demand moving forward. The Canadian government's commitment to immigration will hold steady, with the country set to welcome as many as 265,000 immigrants in 2013. The greater focus on economic immigrants is already leading to quicker household formation and homeownership than in years past. These two factors will also support the burgeoning condominium segment - along with Canada's aging population.
RE/MAX COMMERCIAL INVESTOR REPORT 2012
October 17, 2012: While residential housing sales may be slowing in some parts of the country, demand for commercial real estate continues to climb, according to a report released today by Re/Max. Click here for the full report.
The Re/Max Commercial Investor Report, highlighting trends and developments in nine Canadian centres - Greater Vancouver, Calgary, Edmonton, Regina, Winnipeg, London, Greater Toronto, Ottawa, and Halifax-Dartmouth - found that almost all markets saw an increase in commercial sales and dollar volume over the six-month period ending June 30, 2012. Canadian and foreign investors are behind the push, snapping-up apartment buildings and small strip malls given continuing low interest rates and a generally bullish tone for the Canadian economy. Private investors, in particular, have gained a serious foothold in recent years, spurring demand for entry-level properties such as multi-unit residential, suburban and urban retail storefronts, and smaller office buildings.
Are You Fit To Buy?
Buying a home is one of the most exciting - and important - moments of your life. Your home is not just the roof over your head, where you live, eat, sleep, play and raise a family; it is also one of the most important investments you will ever make. RE/MAX has created a program to assist you through the home buying process. "Fit To Buy" is a comprehensive guide to buying property.
Click here to save a copy of the "Fit To Buy" Presentation Booklet.