Steady growth expected for Canada's housing market in 2015

Steady growth expected for Canada's housing market in 2015 -

With the New Year having only just begun, the housing outlook for 2015 across the country is generally bright.

The average residential sale price in Canada in 2014 was $406,145; that’s expected to increase this year to $416,300, according to the Re/Max 2015 Housing Market Outlook Report.

The report also found that several markets will flourish in 2015. Prices in Vancouver and Toronto will continue to climb, by about 3 and 4 per cent per cent, respectively. Other areas that are expected to see healthy gains include Kelowna, B.C., (7 per cent), Victoria (4 per cent), Windsor, Ont., (5 per cent) and Moncton (6 per cent).

Meanwhile, in other parts of the country, the average sale price will likely remain stable or rise modestly, such as in Montreal (1 per cent), Quebec City (1.5 per cent), Ottawa (1.6 per cent), and Sudbury, Ont. (1.6 per cent).

If you’re a homeowner, or looking to get into the market, keep an eye on these factors in the year ahead.via Yahoo Finance Canada

Our RE/MAX report is here: http://download.remax.ca/PR/HMO2015/Report/Outlook2015Final.pdf #Canada #RealEstate