I was following up on a report from Scotia Capital about the world economy and was pleased to see something that matched what we in the industry have been seeing first hand....Canada continues to have a good economy and is a great place to be invested in real estate. Below is a direct quote from the report which I have included a link to further down in my blog.
"Canada’s housing market stands out in its resilience and longevity. Average inflation-adjusted existing home prices were up 5% y/y in the April-June period, on par with the first-quarter’s pace of appreciation. Data for July and August point to continued firm but stable sales through the late summer, alongside a levelling out in prices.
Ultra-low interest rates will continue to support affordability in the face of record high prices. Nonetheless, heightened economic uncertainty combined with recent signs of a loss of momentum in Canada’s jobs market could keep some potential buyers on the sidelines for the time being. On balance, we anticipate a modest slowdown in the volume of sales transactions heading into year end, alongside relatively flat prices."
In a nutshell, our housing market is as strong as ever and all the evidence points to Canada as a great place to own a home! See below for the link to the complete report and, by all means, let me know your thoughts