Ketiz Singh

Predicting the Future of Canadian Real Estate: A Look Back at 2024 and Ahead to 2025

Hey there, young readers! Welcome back to B PR Real Estate with your favorite real estate agent, Matthew F, and his trusty assistant Matilda. Today, we’re diving into the wild world of real estate predictions for 2025. But before we gaze into the crystal ball, let’s take a trip down memory lane to January 2024.

A Look Back at 2024 Predictions

Can you believe that in 2024, the national average home price in Canada jumped up by a whopping 22%? Let’s see how accurate some of the big real estate companies and banks’ predictions were:

• TD forecast: Home prices up 3%
• RBC forecast: Home prices up 2%
• Canadian Real Estate Association forecast: Home prices up 4%
• Remax forecast: Home prices up 0.5%

Looking at these predictions, it’s clear that the housing market can be a bit unpredictable, with some hits and misses. But hey, that’s all part of the fun!

Matthew F’s 2024 Predictions Revisited

Now, let’s do a little self-reflection. I predicted that more homes would be sold in 2024 compared to 2023, but I missed the mark on distressed sales. Each city has its unique market trends, so it’s crucial to have local insights when making predictions.

Speaking of hot markets, the Prairies were on fire in 2024, setting sales records and hitting price highs. Regional markets truly have their own stories to tell.

The Exciting 2025 Predictions

Now, let’s fast forward to 2025. What do the banks and real estate companies foresee for the Canadian real estate market this year? Here’s a sneak peek:

• TD: Average prices up 8%
• RBC: Prices up 5%
• Canadian Real Estate Association: Prices up 4.5%

It seems like everyone is expecting home prices to climb in 2025, but let’s not forget that these forecasts are just educated guesses. Nobody has a crystal ball!

Matthew F’s Bold 2025 Predictions

Drumroll, please! Here are Matthew F’s top five predictions for the wild ride that is 2025:

1. National sales numbers to increase
2. Largest price increases in Edmonton, Saskatoon, and Montreal
3. Toronto condo market to face challenges
4. Bank of Canada to drop interest rates by 1%
5. Home prices to remain relatively stable, with a slight increase

Now, it’s your turn to join the fun! Share your predictions in the comments below, and who knows, you might just win a feature in next year’s video. So, buckle up, young readers, and let’s see where the real estate rollercoaster takes us in 2025!