As the New Year begins, it’s an exciting time to explore the latest trends in Canada’s real estate market. January is already shaping up to be a transformative month, with key developments creating opportunities for buyers, sellers, and investors.
Strong Housing Price Gains:
Canadian house prices rose by 0.6% last month, marking the strongest monthly growth in over a year. This reflects increased buyer confidence and favourable market conditions.
Robust Population Growth: Canada saw a 2.4% annual population increase last quarter, with Alberta leading at 3.9%. This rapid growth is driving housing demand, particularly in high-growth regions.
Tightening Market Balance: The housing market remains highly competitive as home sales surpass new listings. The sales-to-new-listing ratio has reached its highest point since early 2023, emphasizing limited inventory and heightened buyer competition.
Nearly a Million New Canadians: Over the past year, approximately 950,000 new residents have made Canada their home. This substantial population increase continues to fuel housing demand, especially in urban centers.
Nationwide Price Increases: With declining interest rates, buyers are re-entering the market. Over the past six months, every major metropolitan area in Canada has experienced rising home prices, signaling a broad recovery.
