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Industry News

 Canada can expect an “exceptionally healthy” housing market in 2014 thanks to improvements in the overall economy that helped produce a surge in the latter half of this year, a leading real estate group said today.

 

Re/Max says that, nationally, home sales are expected to climb 2% to 475,000 units next year after a 3% increase to well over 453,000 projected for 2013 when all the numbers are in.

 

At the same time, the value of an average Canadian home is forecast to escalate 3% to $390,000 in 2014 after rising 4% to $380,000 in 2013, according to a survey of the group’s independent brokers and affiliates.

 

Meanwhile, the outlook is for the residential housing market to remain in “clear balanced territory” throughout 2014, although some pockets and price points may see continued shortages.

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