2024 Canadian Property Market: Brace yourself

Hey there! Let’s dive into what’s cooking in the Canadian property market for 2024. Forget the dry stats and predictable analysis; we’re going to unravel this with some real talk and actionable insights.

Modest Yet Strategic Price Growth

Here’s the deal: we’re looking at a 5.5% bump in home prices across Canada, hitting around $843,684 by the end of 2024. Detached homes? They’re climbing by 6.0% to $879,164. Condos? A bit softer at a 5.0% growth to $616,140.

But hold on, there's a twist. The bigwigs, like those in the banks, are playing it down with a 3.5% growth forecast. Why? They’re eyeing a slowdown in hotspots like Toronto and Vancouver. But here’s a golden nugget - regions like the Prairies and Atlantic Canada are where the action is. They’re the underdogs with stronger growth potential.

Sales Volume: Finding the New Normal