Canada housing market outlook 2023: Here’s what buyers and sellers can expect | Globalnews.ca

  • 📰 GlobalNational
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Canada housing market outlook 2023: Here’s what buyers and sellers can expect

Re/Max expects prices to rise in cities including Halifax , Calgary , Ottawa and Kingston, Ont. , St. John’s, N.L. and Saskatoon .

“Our price point is so much less for a major city,” Lyall says. “You can buy twice as much house here.” In addition, the return to the office amid a lifting of COVID-19 restrictions is reversing the migration flows from the early days of the pandemic, when remote work enabled many to afford larger homes in suburban neighbourhoods on city outskirts and more rural areas.Ontario, B.C. headed for buyer’s market despite high interest rates, RBC housing report says

The pain of higher interest rates could hit the pre-construction market especially hard in 2023, some experts warn.Ali says that for buyers who put money down on a home in 2020, when interest rates were low, the bar for qualifying for a mortgage is much higher after the Bank of Canada’s rapid hikes in 2022.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

New Brunswick is the place to buy!!!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 81. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines