{"id":129,"date":"2020-08-04T22:05:15","date_gmt":"2020-08-04T20:05:15","guid":{"rendered":"https:\/\/www.alouercondo.com\/jimmy\/groupe-lamarre\/blogue\/?p=129"},"modified":"2020-08-05T22:42:05","modified_gmt":"2020-08-05T20:42:05","slug":"key-canadian-real-estate-trends-for-2019","status":"publish","type":"post","link":"https:\/\/www.groupelamarre.ca\/blogue\/en\/key-canadian-real-estate-trends-for-2019\/","title":{"rendered":"KEY CANADIAN REAL ESTATE TRENDS FOR 2019"},"content":{"rendered":"\n

Most people who are looking for a new home are less inclined to house-hunt or move during the winter<\/a>. While there are some perks, such as having more locations available for visits and saving money on moving costs, homebuyers should be aware of the real estate trends that come with each new year.<\/p>\n\n\n\n

LOOKING BACK AT 2018<\/h2>\n\n\n\n

Because of the policy changes made in 2018, homebuyers will see a different playing field in the Canadian real estate sector\u2014particularly with the new mortgage stress test. When the announcement for the stress test came out in late 2017, the Canada Mortgage and Housing Corporation<\/a> (CMHC) saw more than 46,000 homes<\/strong> were sold in Canada. In 2018, however, this figure decreased by 14%<\/strong>.<\/p>\n\n\n\n

WHY THE DROP?<\/h2>\n\n\n\n

Homeowners were racing against the clock to buy a home before the new mortgage stress test came into effect. It measures homebuyers against higher mortgage rates compared to the contracted mortgage rate. This new method is used to ensure that homebuyers will be able to continue their mortgage payments should the interest rates increase.<\/p>\n\n\n\n

While 2018 didn\u2019t experience any economic shocks, it appears that 2019 will likely be a stable year<\/strong> for the Canadian real estate market. There is even a chance of some growth. According to the CMHC<\/a>, the housing market will move in time to the movements of the economy<\/strong>, including income, jobs, and population; should one of these factors increase or decrease, property prices will follow suit. Additionally, the CMHC has forecasted that the average home price across Canada will not go higher than $525,000<\/strong>. However, regional real estate markets will have different results.<\/p>\n\n\n\n

MONTREAL\u2019S HOUSING MARKET IN 2019<\/h2>\n\n\n\n

Toronto and Vancouver have imposed taxes on foreign buyers, but Montreal was not in favour of this and is predicted to see a boost in foreign buyers. As a result, it\u2019s likely that there will be fewer rental vacancies.<\/p>\n\n\n\n

PricewaterhouseCoopers (PwC) has forecasted a 1.9 % growth<\/a> in Montreal\u2019s economy during 2019. Montreal is seeing rapid changes in various sectors:<\/p>\n\n\n\n