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Canadian housing market looks bright in 2020 as markets stabilize, consumer confidence returns
Canadian home prices expected to increase by 3.7 per cent
• Increased consumer confidence could be a key factor affecting the housing market in 2020
• Fifty-one per cent of Canadians are considering a home purchase in the next five years, up from 36 per cent at the same time last year
• Only two in 10 Canadians say that the mortgage stress test negatively affected their ability to purchase a home in 2019
RE/MAX is expecting a leveling out of the highs and lows that characterized the Canadian housing market in 2019, particularly in Vancouver and Toronto, as we move into 2020. Healthy price increases are expected next year, with the RE/MAX 2020 Housing Market Outlook Report estimating a 3.7 per-cent increase in the average residential sales price.
Download to read the full National Report with features on key markets across the country including Hamilton-Burlington and Niagara.