RE/MAX 2016 Housing Outlook
Tuesday Mar 07th, 2017
Re/Max recently released its annual 2016 Housing Outlook report that discusses predictions across Canada for the new year, based on the market activity for 2015. With high demand and low supply throughout many of Canada's competitive markets, buyers have been competing for limited inventory, a situation that has consistently pushed the price of single family homes higher through this past year.
91% of Canadians say that home ownership is part of the Canadian Dream
In 2016, RE/MAX average residential sale price expectations for Canada is an increase of 2.5 percent. Canadians continue to see home ownership as an important milestone as well as a good investment. More than two-thirds of Canadians say that 10% or more of the price of a home is a good downpayment. 71% of homeowners agree that when buying or selling a home, REALTORS® provide value.
Below I've pulled out the sections that focus on the Hamilton-Burlington region. If you'd like to view the full report, click here.