Hey, so lately I have been hearing a lot of talk about a possible housing market collapse coming our way. This of course, piqued my interest, so let's take a look at some statistics. Since the last report filed by CREA in September 2015, the housing market in Ontario has only strengthened further. In fact, the housing sales in the Ontario market are expected to increase by 9.3% this year! British Columbia touts an impressive 21.4% increase! There is some validity to the notion of a deteriorating housing market as provinces like Albert and Saskatchewan are expected to see a decrease in sales this year. However, the national sales are expected to reach upwards of 498 000 this year, and an average price increase of 1.4% and particularly in Ontario, we're looking at an increase of 2.9%.
In conclusion, these statistics do not indicate a collapse of the housing market. Rather, they show that while some areas of the province may be struggling a little bit, most of Canada is still thriving, and will continue to do so. The Ontario market is very stable, and coupled with low interest rates, this makes for a perfect time to invest in real estate.