Found 2 blog entries tagged as housing prices.

The COVID-19 pandemic supercharged a market that already favoured sellers. With available listings hitting a record 14-year low before the pandemic, it was no wonder that housing prices had soared upward, with the Canadian Real Estate Association forecasting the national average home price would rise a whopping 19.9 per cent on an annual basis to $690,000 in 2021. Low interest rates, economic support and lockdowns that drastically shifted the consumer appetite, contributed to a sharp increase in demand and, consequently, price growth across virtually every Canadian housing market.

But did these changes cause real estate prices to become overvalued? According to Moody’s Analytics, a leading credit rating agency, this was most certainly the case. The…

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Most affordable Canadian real estate markets_Saskatoon

Despite recent cooling in Canadian real estate markets due to rising interest rates, the fact remains that housing prices are still hovering at a high, relatively speaking. Add to this the record-high inflation rate, which reached 8.1 per cent in June, up from 7.7 per cent in May, and there’s no arguing that housing affordability in Canada has taken a big hit. While this is particularly true in major markets such as Toronto and Vancouver, as well as their suburbs, there’s still affordable housing to be found in Canada – and Canadians are willing to relocate to find it.

RE/MAX Canada’s 2022 Housing Affordability Report analyzed 24 major housing markets across the country (for Quebec market insights, please visit RE/MAX…

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