Being a full week into December now we can affirmatively state that the current year is now waning on the horizon and we will be in January of 2021 before we know it. Most people are pretty keen to have 2021 in the rear-view mirror, and for good reason. For homeowners and soon-to-homeowners and the realtors working with them, there’s an added reason to be enthused about the coming new year.
All of which is relevant for those newer to the profession of being a real estate agent in Canada. The market has remained very resilient throughout the economic turmoil brought about by the pandemic, and we’re all thankful for that. Nothing, however, is going to make real estate any less of a competitive business and realtors need to be hustling harder than ever to continue to have the ‘pie slice’ they envision for themselves.
That’s what makes our online real estate lead generation system here at Real Estate Leads such a valuable resource for realtors in Canada. Like the idea of being straight lined into contact with genuine buyer / seller prospective clients? Right, of course you are and that’s what our system is able to do for you.
Which is plenty good news, because industry experts and economists are foreseeing a good bit of vibrancy to the housing market for next year, and in fact some are saying it could be the year of ‘move up and move over’ for many people who will be active in the Canadian real estate market next year.
As Expected – Less Supply, with More Demand
So what’s meant by that? Well, it is believe that the real estate market in Canada will be pushed primarily by these ‘move-up’ and ‘move-over’ buyers in 2021. Why? Well, let’s start with the projection that ongoing supply shortages will push prices up some 4-6%, according to REMAX Canada.
What we do know is that there’s plenty of evidence that many households are considering major lifestyle, many that will involve relocating to less dense cities and neighbourhoods. Sales of homes in suburban and rural parts of Canada reached record levels in 2021 and this trend is expected to continue.
Much to the pleasant surprise of realtors working in more rural areas of Canada no doubt! Also a catalyst for greater numbers of people in these locales to perhaps consider a career change to real estate if that’s something they think might work out well for them.
But let’s consider more prominently that 52% of Canadians believe real estate will be one of the best investments in 2021, as the housing market remains hot despite the downfall many predicted for it in the time following Mid-March.
Sanctity – and Scarcity – of Space
Other relevant stats here we were able to borrow; only 6% of sellers in 2020 made purchasing decisions influenced by the COVID-19 pandemic. 40% started on home renovations. Most notable, however, was that 29% of buyers were opting for more space. Something you almost certainly won’t get in Vancouver or Toronto unless you’re a multi millionaire or darn close to it.
Suburban markets saw influxes of new residents this year. Places like North Bay, Kingston, Moncton and the Fraser Valley around Vancouver are good examples. This trend is expected to continue into 2021.
It’s also foreseen that market activity across the country’s most populated Province – Ontario – is set to remain very steady in 2021. While only an estimate, it’s believed that the a potential for an average sale price increases of some 7-12% should be seen in regions like London (7%), Kingston and Cornwall (10%), Niagara (12%), and 10 percent for Thunder Bay too.
What’s behind all this? Well, it really is the same old story. High demand and low supply paired with shifting home-buying trends toward local liveability factors. More and more people than ever want more space, larger yards and closer proximity to amenities like parks.
Move-up and move-over buyers are impacting luxury segments in Ontario too. Ottawa and Hamilton-Burlington are prime examples of a massive spike in demand for luxury homes since the start of the pandemic, and this is expected to be the norm all through 2021 too.
Being a full week into December now we can affirmatively state that the current year is now waning on the horizon and we will be in January of 2021 before we know it. Most people are pretty keen to have 2021 in the rear-view mirror, and for good reason. For homeowners and soon-to-homeowners and the realtors working with them, there’s an added reason to be enthused about the coming new year.
All of which is relevant for those newer to the profession of being a real estate agent in Canada. The market has remained very resilient throughout the economic turmoil brought about by the pandemic, and we’re all thankful for that. Nothing, however, is going to make real estate any less of a competitive business and realtors need to be hustling harder than ever to continue to have the ‘pie slice’ they envision for themselves.
That’s what makes our online real estate lead generation system here at Real Estate Leads such a valuable resource for realtors in Canada. Like the idea of being straight lined into contact with genuine buyer / seller prospective clients? Right, of course you are and that’s what our system is able to do for you.
Which is plenty good news, because industry experts and economists are foreseeing a good bit of vibrancy to the housing market for next year, and in fact some are saying it could be the year of ‘move up and move over’ for many people who will be active in the Canadian real estate market next year.
As Expected – Less Supply, with More Demand
So what’s meant by that? Well, it is believe that the real estate market in Canada will be pushed primarily by these ‘move-up’ and ‘move-over’ buyers in 2021. Why? Well, let’s start with the projection that ongoing supply shortages will push prices up some 4-6%, according to REMAX Canada.
What we do know is that there’s plenty of evidence that many households are considering major lifestyle, many that will involve relocating to less dense cities and neighbourhoods. Sales of homes in suburban and rural parts of Canada reached record levels in 2021 and this trend is expected to continue.
Much to the pleasant surprise of realtors working in more rural areas of Canada no doubt! Also a catalyst for greater numbers of people in these locales to perhaps consider a career change to real estate if that’s something they think might work out well for them.
But let’s consider more prominently that 52% of Canadians believe real estate will be one of the best investments in 2021, as the housing market remains hot despite the downfall many predicted for it in the time following Mid-March.
Sanctity – and Scarcity – of Space
Other relevant stats here we were able to borrow; only 6% of sellers in 2020 made purchasing decisions influenced by the COVID-19 pandemic. 40% started on home renovations. Most notable, however, was that 29% of buyers were opting for more space. Something you almost certainly won’t get in Vancouver or Toronto unless you’re a multi millionaire or darn close to it.
Suburban markets saw influxes of new residents this year. Places like North Bay, Kingston, Moncton and the Fraser Valley around Vancouver are good examples. This trend is expected to continue into 2021.
It’s also foreseen that market activity across the country’s most populated Province – Ontario – is set to remain very steady in 2021. While only an estimate, it’s believed that the a potential for an average sale price increases of some 7-12% should be seen in regions like London (7%), Kingston and Cornwall (10%), Niagara (12%), and 10 percent for Thunder Bay too.
What’s behind all this? Well, it really is the same old story. High demand and low supply paired with shifting home-buying trends toward local liveability factors. More and more people than ever want more space, larger yards and closer proximity to amenities like parks.
Move-up and move-over buyers are impacting luxury segments in Ontario too. Ottawa and Hamilton-Burlington are prime examples of a massive spike in demand for luxury homes since the start of the pandemic, and this is expected to be the norm all through 2021 too.
Sign up for Real Estate Leads here and receive a monthly quota of qualified, online-generated buyer and / or seller leads that are from genuine buyers who are in the same area of any city or town in Canada where you are working as a real estate agent. But what’s most important to most realtors is that you will be the only realtor who will receive those leads, we won’t be providing them to anyone else. It’s a dynamite way to supercharge your client prospecting efforts, and it comes highly recommended from realtors just like you.
