Canadian home prices expected to increase by two per cent in 2017 as demand remains high.
Other findings in this year’s report:
– High demand and low supply continued to characterize Vancouver and Toronto’s housing markets throughout 2016 as competition from buyers for limited inventory of single-family homes pushed prices higher.
– Calgary and Edmonton’s housing markets remained relatively stable, with moderate declines in the number of sales and average residential sale price as a result of the prolonged recovery of the oil sector over the past two years.
– Home ownership remains a priority for Canadians, with 53 per cent of respondents in a recent RE/MAX survey expressing intent to purchase a home and 47 per cent expressing intent to do so in the next five to 10 years.