Canada housing market outlook 2023: Here’s what buyers and sellers can expect | Globalnews.ca

Re/Max expects prices to rise in cities including Halifax , Calgary , Ottawa and Kingston, Ont. , St. John’s, N.L. and Saskatoon .

“Our price point is so much less for a major city,” Lyall says. “You can buy twice as much house here.” In addition, the return to the office amid a lifting of COVID-19 restrictions is reversing the migration flows from the early days of the pandemic, when remote work enabled many to afford larger homes in suburban neighbourhoods on city outskirts and more rural areas.Ontario, B.C. headed for buyer’s market despite high interest rates, RBC housing report says

The pain of higher interest rates could hit the pre-construction market especially hard in 2023, some experts warn.Ali says that for buyers who put money down on a home in 2020, when interest rates were low, the bar for qualifying for a mortgage is much higher after the Bank of Canada’s rapid hikes in 2022.

New Brunswick is the place to buy!!!

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