CONSUMER TRENDS
RE/MAX CANADA NETWORK EXPECTS RESIDENTIAL SALE PRICES TO REMAIN FLAT THIS FALL
While Canada grapples with the highest interest rates it’s seen in decades, RE/MAX Canada brokers and agents across the country are reporting that both the interest rate climate and lack of inventory are likely to result in a softer market this fall. The national average residential sale price across all home types is expected to remain flat, with no change anticipated between now and the end of the year.
1 in 10
Canadians are planning to buy a home in the next 12 months.
How are you planning?
Affordable housing
55% of Gen Zs and 49% of Millennials are changing their housing plans due to lack of affordable housing inventory.
Can you buy for under $500.000 in North Vancouver? YES
33%
of Canadians who want to buy and/or sell a home in the next 12 months will wait and see how interest rates play out.
Will this increase the demand and result in higher prices?
51%
of Canadians say further interest rate increases this year will not change their financial situation or their plans to buy or sell a home.
Are you in this category and how will you plan?
Would you wait for a new car purchase instead of buying a home?
Timing the market
Younger Canadians (47% of Gen Zs and 52% of Millennials) are more likely to rely on Bank of Canada interest rate announcements to determine the best time to buy or sell a home.
How can you take control of your own actions instead of waiting for others to make a decision?
LEARN MORE AND SPEAK TO AN EXPERT