It's impossible to predict the future but here's a look at where the real estate market stands at the beginning of 2020.
Affordability is Improving
Housing Affordability is slowly improving according to RBC Economics. Explained: The gap between prices of single-detached homes and condos lessened, making single detached homes more accessible to buyers. Bigger Picture: Lowering interest rates and stronger wage gains are helping ease home ownership costs.
Home Sales are Increasing
Home sales rose slightly in 2019 according to CREA National Statistics. Explained: A decrease in the benchmark five-year interest rate is helping buyers get back in the game. Bigger Picture: With the benchmark lowered, buyers are more likely to pass the stress-test and…