5 Things You Need To Know About Canada's Real Estate Market in 2018


According to the Huffington Post, this year will bring some new challenges and opportunities for housing. Here is a brief rundown of the five things you need to know about Canadian real estate in 2018.
1. The market will be more local than ever. What happens in larger markets isn't always indicative of what happens in smaller markets.
2. The introduction of the Stress Test. New lending rules will affect the borrowing capability of Canadian homebuyers.
3. Interest rates are on the rise. Rising interest rates. It will be more expensive to borrow money.
4. Sustainable Growth. Even in formerly scorching markets such as Toronto and Vancouver, sales are softening and price growth is slowing. For prospective home buyers sitting on the sidelines waiting for your opportunity, this may be it.
5. The Year of the Condo. Limited supply and worsening affordability challenges in lowrise homes, particularly in Toronto and Vancouver, have made  condominiums an increasingly popular housing choice.
To read the full article, click here
And if you are thinking of a move this year, contact me for a free home evaluation.