As we wrap up 2021, time to reflect, yet also look ahead for what 2022 will bring. This month, as we wind down this year, I am going to share a more national view of the real estate market and the key highlights of our new RE/MAX 2022 Canadian Housing Market Outlook report.
One of the top questions on many people’s minds is where are the prices heading in 2022? Well, the report states to expect a price increase of 9.2% in the residential housing market across Canada.
There has been a trend in inter-provincial migration, with many people relocating to other provinces within Canada, especially in the eastern provinces, where the price increases are expected to be in the double digits.
And the majority of regions surveyed (36 out of 38) expect we will remain in a seller’s market, where the months of inventory available for sale remain historically low, and the demand from buyers high. As the factors within each region vary, it's always best to work with your trusted Realtor to understand the local conditions in your area.
More key highlights of the report can be found:
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