06 Apr Canadian Real Estate Outlook 2017 Infographic
Our graphics team have created this infographic to highlight some Canadian Real Estate Association estimates for 2017.
This information was sourced from the CREA website and the full report can be found at www.crea.ca/news/crea-updates-resale-housing-forecast-18
Canadian Real Estate Outlook for 2017
Many homeowners in Canada are wondering if the red-hot Canadian real estate market will decline in 2017. The Canadian Real Estate Association is predicting a modest reduction in home values in most of the country and slower gains in previously hot regions.
- The Canadian Real Estate Association expects national sales to be 518,900 units in 2017, which is a 3.3% drop from the previous year.
- Sales are expected to decline slightly in Saskatchewan (-1.2%), Nova Scotia (-2.1%), Prince Edward Island (-2.2%) and Newfoundland (-1.4%)
- Sales are expected to rise in 2017 for Alberta (3.5%) Quebec (1.2%), Manitoba (0.8%) and New Brunswick (1.6%)
- The price for an average Canadian home is predicted to decline 2.8% to $475,900 by the end of 2017
- The average home price in British Columbia is expected to decline more dramatically by 7.8%