BuyersMarket InsightsSellers Canadian house prices will pick up says economist by admin August 23, 2019August 24, 2019 August 23, 2019August 24, 2019 Home prices are set to be flat for the rest of this year before picking up in 2020. A panel of economists and analysts convened by Reuters says that lower mortgage rates and strong economic conditions will drive prices higher next year.But homeowners and investors hoping for a new Canadian housing boom appear to be out of luck; the panel expects growth to be a modest 1.8% in 2020. The strong labour market and population growth will be key factors in next year’s price increases. “There are views that the factors are in place for continued recovery, but then again it will be a slow recovery, not a sharp snapback,” RBC’s senior economist Robert Hogue told Reuters. Tale of two cities Home prices in Toronto have already picked up and are now predicted to post a 2% gain for 20198 compared to a previous estimate from the panel of 1.3%. However, prices in Vancouver are now expected to post a sharper decline in 2019 than previously thought; the panel believe a 5.5% decrease compared to the 4% they were predicting in May. There will be a modest rebound in 2020. Demand for housing is expected to rise – 13 of the 17 on the panel said so with three calling for a hold-steady and 1 expecting a decrease. About Nest and Castle Nest & Castle Inc is a leading edge real estate brokerage based in the heart of the Greater Toronto Area (GTA). We provide creative solutions and strategic advice on all aspects of the real estate industry. Our mix of conventional real estate techniques and forward-thinking technologies makes the buying or selling of your home, an easy and enjoyable experience. Search Exclusive New Developments Looking for your Dream Home? Sell Smarter With Data. It's The Future. 0 comment previous post Closer Look: Distrikt Trailside Condos – Oakville next post New GTA home sales sizzled in July says BILD You may also like These Are the Top Ontario Sellers’ Markets December 4, 2018 Canada Housing Starts Unexpectedly Rise in May June 15, 2020 5 GlobalExamples of Revitalizing Urban Areas with Innovation... August 21, 2019 First Look: 11 YV Condos August 15, 2019 THE MISSISSAUGA MARKET IS HOLDING STABLE. October 13, 2020 Canada Housing Starts Lowest in 7 Months January 15, 2020 Amenity spaces redesigned through tech innovation November 27, 2018 Did you know that living along a major... February 23, 2019 August 15, 2019