Canadian Housing Market Update:
Opportunities Abound
It’s the perfect time to explore the exciting developments in Canada’s real estate market. January is already proving to be a pivotal month, with several key trends driving opportunities for buyers, sellers, and investors alike:
Strong Housing Price Gains
Canadian house prices rose by 0.6% last month, marking the strongest monthly growth in over a year. This reflects increased buyer confidence and favourable market conditions.
Robust Population Growth
Canada experienced a 2.4% annual population increase last quarter, with Alberta leading the way at 3.9%. This rapid growth is driving demand for housing, particularly in thriving regions.
Tightening Market Balance
The housing market remains competitive as home sales outpace new listings. The sales-to-new-listing ratio has reached its highest point since early 2023, highlighting the pressure on limited inventory.
Nearly a Million New Canadians:
Over the past year, Canada welcomed approximately 950,000 new residents. This continued population growth is fueling housing demand, especially in urban areas.
Nationwide Price Increases
Declining interest rates are bringing buyers back into the market. Over the past six months, every major metropolitan area in Canada has seen rising home prices, signaling a nationwide recovery.
These trends illustrate the strength and resilience of Canada’s housing market. Whether you’re looking to buy, sell, or refinance, now is an excellent time to make your move.
Ready to take advantage of the opportunities in today’s market? Contact Cashin Mortgages today to discuss your options and achieve your real estate goals.
