Canadian Real Estate Price Outlook by City
- “After more than two years of decline, sales in the resale market appear to have reached bottom,” according to Andres Carbacho-Burgos, lead housing economist at Moody’s Analytics. RBC’s senior economist, Robert Hogue agreed, citing improving sales in April for a second consecutive month.
- Carbacho-Burgos also noted, “With the direct and indirect effects of monetary tightening, house price appreciation will slow down in 2020, turn briefly negative in 2021, and only recover in the following years”.
- On average, Canadian housing is expected to experience price appreciation of 2.2% per annum from 2019 through 2024. St. John’s, Guelph, and Barrie are anticipated to have the highest levels of growth at +5%. Growth in Toronto is expected to exceed that of Vancouver’s. Saskatoon and Regina are the only two cities within the study that are expected to see a pullback in their respective real estate markets during the same time period.
- Below is the five-year price outlook for 33 Canadian cities as depicted by Moody’s Analytics based on its findings on RPS Real Property Solutions data.
