The 2008 Outlook for Canadian Real Estate Remains Positive

Posted in Real Insights | April 7, 2008

Did you know the Canada’s housing boom has been the strongest and longest in history? And it is still ‘remarkably buoyant,’ according to Scotiabank chief economist Adrienne Warren. While 2008 may not match 2007, experts still predict price appreciation of 3.5% (Royal LePage) to 5.2% (CMHC). The same sources predict that unit sales may fall by about 4%. Many of Canada’s markets have shifted from “sellers” markets to “balanced” markets. Canada’s economic fundamentals (employment, immigration, vacancy rates) are solid, but economic growth may slow to a degree.