As a Real Estate Agent, I’m always looking forward to a better understanding of the market, finding out more information based on research, consumer intentions, market overviews and forecasts.
Here is a quick recap for your interest:
- The supply of housing across the region is not expected to grow fast enough to meet the demand for housing.
- The relationship between sales growth and the declining number of new listings will result in stronger annual rates of price growth over the next year.
- 2020 promises to be another year for new home sales
- Single-family new home sales have the potential to push somewhat higher again in 2020, given reduced competition from the resale market (where inventories have dropped in the past year).
- New condominium apartment sales are also well-positioned for another solid year
- Strong in-migration driving for additional housing – investors viewing the importance of acquiring land.
- Lack of available product to purchase, especially in low density land, could constrain the number of deals.
Home ownership continues to be a sound long-term investment for buyers and the economy.