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Rapidly Evolving Expectations in the Housing Market

One of the reasons we look at economic trends is that, most of the time, the recent past gives us reasonably reliable clues about what might happen in the near future. That is not the case in these extremely abnormal times - the COVID-19 emergency has resulted in extremely volatile shifts in the Canadian housing market. At this point, it is impossible to confidently develop any forecasts for the housing market because of extreme uncertainty about the key factors that will drive consumer decisions.

Over the next several months, Mortgage Professionals Canada will be releasing a series of consumer reports - Rapidly Evolving Expectations in the Housing Market, written by our Chief Economist Will Dunning. These reports will create and analyze new data that will assist in tracking shifts in Canadians’ expectations about the housing market in order to monitor the evolving market circumstances.


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Last Updated:
September 14, 2020



Read the reports:

Jan 2019 Report Cover
Jan 2019 Report Cover
Jan 2019 Report Cover

COMING SOON
Oct 2020

Jan 2019 Report Cover

COMING SOON
Dec 2020











Key Takeaways:
Updated after each report


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Market Expectations

Both current homeowners and non-owners do expect mortgage interest rates and prices to rise over the coming year, but not as much as they did at the end of 2019. Additionally, there is a positive shift in market expectations from current non-owners, identifying this time as a good time to buy a new property.
Homeowners EN
Non-owners EN

Legend:

  • A = Good time to purchase a home/condo
  • B = Good time to sell a home/condo
  • C = Good time to purchase a home/condo as an investment property
  • D = Expect housing prices to grow in the coming year
  • E = Expect mortgage interest rates to rise in the coming year


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