By: Tori Wright & KJ Duck
What's in store for the Real Estate market 2021
Tags: Housing outlook 2021, Toronto Real Estate, market predictions, house prices
Curious about what RE/MAX Brokers have to say about what's in store for 2021?
Canadians on the move: Not an exodus, but the re-location trend across the Canadian housing market is real.
RE/MAX Canada expects average residential prices to rise 4% to 6% in 2021
- 35% of RE/MAX brokers indicate that “move-over” buyers from other cities and provinces will continue to spark market activity in 2021
- 45% of RE/MAX brokers indicate that move-up buyers will likely be a primary driver of the housing market demand in 2021
- Half of Canadians (53%) are confident that Canada’s housing markets will remain steady in 2021
- 52% of Canadians believe real estate will remain one of the best investment options in 2021
RE/MAX Canada is anticipating healthy housing price growth in 2021, with move-up and move-over buyers continuing to drive activity in many regions across the Canadian housing market. An ongoing housing supply shortage is likely to continue, presenting challenges for homebuyers and putting upward pressure on prices. Due to these factors, the 2021 RE/MAX Housing Market Outlook Report estimates a four to six per cent increase in the average residential sales price nation-wide.
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