{"id":762,"date":"2020-08-04T14:03:07","date_gmt":"2020-08-04T14:03:07","guid":{"rendered":"https:\/\/www.realestateleads.ca\/blog\/?p=762"},"modified":"2023-09-26T16:29:56","modified_gmt":"2023-09-26T16:29:56","slug":"stats-can-new-2020-housing-price-index-highlighting-market-resiliency-and-new-drivers","status":"publish","type":"post","link":"https:\/\/www.realestateleads.ca\/blog\/stats-can-new-2020-housing-price-index-highlighting-market-resiliency-and-new-drivers\/","title":{"rendered":"Stats Can New 2020 Housing Price Index Highlighting Market Resiliency and New Drivers"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\r\n<div class=\"wp-block-media-text alignwide is-stacked-on-mobile\">\r\n<figure class=\"wp-block-media-text__media\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" class=\"wp-image-763\" src=\"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2020\/08\/AdobeStock_302142871-1024x768.jpeg\" alt=\"\" srcset=\"https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2020\/08\/AdobeStock_302142871-1024x768.jpeg 1024w, https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2020\/08\/AdobeStock_302142871-300x225.jpeg 300w, https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2020\/08\/AdobeStock_302142871-768x576.jpeg 768w, https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2020\/08\/AdobeStock_302142871-1536x1152.jpeg 1536w, https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2020\/08\/AdobeStock_302142871-2048x1536.jpeg 2048w, https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2020\/08\/AdobeStock_302142871-640x480.jpeg 640w, https:\/\/www.realestateleads.ca\/blog\/wp-content\/uploads\/2020\/08\/AdobeStock_302142871-scaled.jpeg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\r\n<div class=\"wp-block-media-text__content\">\r\n<ul class=\"wp-block-list\">\r\n<li>Much of the talk these days in real estate in this country is how as the Province\u2019s move into different stage of reopening there\u2019s bound to be some economic bounce back that will help to buoy the market as it makes its own recovery of sorts. All of that is fairly well founded, and good news as well although it\u2019s tempered somewhat by the fact that it appears the 2nd wave of the virus is well on its way and may lead to further shut downs and all the economic turmoil that will come with round 2 of that.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>Much of the talk these days in real estate in this country is how as the Province\u2019s move into different stage of reopening there\u2019s bound to be some economic bounce back that will help to buoy the market as it makes its own recovery of sorts. All of that is fairly well founded, and good news as well although it\u2019s tempered somewhat by the fact that it appears the 2nd wave of the virus is well on its way and may lead to further shut downs and all the economic turmoil that will come with round 2 of that.<\/p>\r\n\r\n\r\n\r\n<p>Nonetheless, we\u2019ve been like many others in the know who\u2019ve stated that the plummeting of home values in this country was a false alarm, and both data and projections from industry insiders have borne out the fact that no, we\u2019re not going to see the housing market take any type of major fall anytime soon, global pandemic or not.<\/p>\r\n\r\n\r\n\r\n<p>The Statistics Canada 2020 Housing Price Index report of last week is yet another voice adding to the argument that neither homeowners or realtors need to start panicking. Now perhaps that applies more to homeowners than realtors though, as what was a very competitive business is poised to get even more competitive as no matter how you slice it there are going to be a LOT of homeowners from coast to coast who\u2019ll decide to postpone putting their homes on the market.<\/p>\r\n\r\n\r\n\r\n<p>To that end, our online real estate lead generation system here at <a href=\"https:\/\/www.realestateleads.ca\/\">Real Estate Leads <\/a>is an excellent way for realtors struggling to generate new clients to put the power of the Internet to work for them and be put more directly in touch with homeowners who are deciding to throw caution to the wind and put their homes for sale. The same goes for prospective homebuyers too.<\/p>\r\n\r\n\r\n\r\n<p>But back to our discussion of the Stats Can 2020 House Pricing Index.<\/p>\r\n\r\n\r\n\r\n<h3><strong>New Geography for Canadian Housing Demand<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>Nationwide, StatCan saw that new house prices rose 0.1% from May 2020 and 1.3% from June 2019. The largest single monthly increase for new home prices was in the St. Catharines-Niagara region with a full 1% jump. Other smaller, more affordable housing markets outside of major urban centres like Guelph, Kitchener-Waterloo, and Kelowna out in BC saw similar growth.<\/p>\r\n\r\n\r\n\r\n<p>The prairie provinces were where the opposite was seen, with a decline in new housing prices led by Edmonton dropping a considerable 0.2%.<\/p>\r\n\r\n\r\n\r\n<p>The major markets have gone this way this year; home prices in Toronto were flat from May to June, rising only 0.2% year over year. Prices in Ottawa continued to accelerate though, with price increases of 0.2% in June and 10.4% since last year. Vancouver would be most people\u2019s guess as to who\u2019s the biggest gainer, but actually it only grew by 0.1% from May to June and has actually seen its year over year new home price fall by 0.7%.<\/p>\r\n\r\n\r\n\r\n<p>Montreal had home prices grow 8.1% year-over-year and is on track for a solid 2020 despite all the doom n\u2019 gloom predictions attached to its market just like all the others.<\/p>\r\n\r\n\r\n\r\n<p>Atlantic Canada featured Halifax\u2019s 0.5% monthly increase in June and 2.3% price increase year over year, while Saint John, Fredericton and Moncton led the charge for New Brunswick\u2019s markets with a combined 2.3% increase year over year. Admittedly, prices were flat from May to June there this year. The only decline was for St. John\u2019s NFLD, shrinking by 0.1% since last year.<\/p>\r\n\r\n\r\n\r\n<h3><strong>Exurbs Starting to Drive the Market<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>One thing that\u2019s definitely being seen and can\u2019t be ignored is a significant shift towards exurbs as homebuyers who may now found themselves less tied to a desk realize how much more they can get for their money. Not everyone will just march back to the downtown cores of the major cities and as a result many more people will be able to work from home. It\u2019s reasonable to expect then that greater numbers of working adults may be open to living away from major urban centres to get more out of \u2018home\u2019.<\/p>\r\n\r\n\r\n\r\n<p>This potential shift to working from home will see proximity to work take a backseat to personal and lifestyle desire when it comes to a homebuyer\u2019s choices, and this shift will almost certainly introduce vitality into housing markets in areas of the country that previously struggled to attract both homebuyers and developers who\u2019d consider building homes there.<\/p>\r\n\r\n\r\n\r\n<p>Overall, StatsCan\u2019s new numbers point to a resiliency in Canada\u2019s housing markets for the most part. One that is something a surprise to even the most positive outlook-inclined experts. While people are definitely waiting to see how the rest of the year shapes up, we don\u2019t need to look any further than the white-hot recreational housing markets in Ontario as evidence that homebuyers feel secure enough in their incomes to be purchasing second homes now.<\/p>\r\n\r\n\r\n\r\n<h3><strong>Mortgage Broker Opportunities<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>Another aspect to this displayed resiliency in Canada\u2019s key housing markets is that it has the potential to be quite good for brokers. Look, we can now fairly convincingly say that the CMHC\u2019s dire forecasts of a 9-18% drop in home prices nationwide aren\u2019t happening. What we have seen and will continue to see is that the circumstances of this lockdown have driven a change rather than a weakening in the drivers of Canada\u2019s housing market. A change that could be an opportunity for mortgage brokers.<\/p>\r\n\r\n\r\n\r\n<p>Many people will see record-low mortgage rates as a rationale behind see late 2020 as a very good time to buy, and the majority of them will need the assistance of a mortgage broker in doing so.<\/p>\r\n\r\n\r\n\r\n<p>Sign up with Real Estate Leads <a href=\"https:\/\/www.realestateleads.ca\/billing\/cart.php?a=confproduct&amp;i=0\">here<\/a> and receive a monthly quota of qualified, online generated buyer and \/ or seller leads that are delivered exclusively to you and based in the area of any city or town you\u2019re serving as a working professional in real estate. It\u2019s a proven-effective way to get so much more of your prospecting efforts, and we imagine you\u2019ll be like every other realtor who\u2019s gotten on board with us in that you\u2019ll see it as part of a marketing and promotion budget that\u2019s well spent.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Much of the talk these days in real estate in this country is how as the Province\u2019s move into different stage of reopening there\u2019s bound to be some economic bounce back that will help to buoy the market as it makes its own recovery of sorts. All of that is fairly well founded, and good [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-762","post","type-post","status-publish","format-standard","hentry","category-general-topics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stats Can New 2020 Housing Price Index Highlighting Market Resiliency and New Drivers - Real Estate Leads Blog<\/title>\n<meta name=\"description\" content=\"Stats Can New 2020 Housing Price Index Highlighting Market Resiliency and New Drivers - Real Estate Leads Blog\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realestateleads.ca\/blog\/stats-can-new-2020-housing-price-index-highlighting-market-resiliency-and-new-drivers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stats Can New 2020 Housing Price Index Highlighting Market Resiliency and New Drivers - 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