Three Real Estate Stories in the News for Wednesday, March 21st, 2018

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Montreal to Lead Canadian Luxury Real Estate Market Performance in Spring 2018

Montreal is projected to lead Canadian luxury real estate market performance in spring 2018, as strong economic fundamentals and soaring consumer confidence drive demand and elevate prices in the market for homes over $1 million.

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Sales and price outlook for Canadian housing market lowered for 2018

The outlook for the residential property market in Canada has been lowered as new mortgage rules are expected to cool the housing sector and interest rates are expected to rise.

Nationally sales activity is projected to decline by 7.1% in 2018, according to the forecast from the Canadian Real Estate Association (CREA) which says that the decline reflects weaker sales in B.C. and Ontario.

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Our limping loonie shows the bullish narrative on the economy is breaking down

Last year’s strong Canadian economic growth figures set off a lot of flag waving by media pundits, economists and market strategists, who spun bullish narratives about the state of the economy and a hawkish view of the Bank of Canada’s intentions.

However, the latest action by the Canadian dollar and our main equity market suggest that investors, rather than being backward looking, are increasingly concerned about what lies ahead.

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