Ketiz Singh

The Future of Home Prices in Canada: What to Expect in 2025

Hey there, young readers! Let’s dive into the exciting world of real estate predictions for 2025.

Imagine a world where home prices in Canada could drop by 10% or more in the upcoming year. What’s in store for the Canadian real estate market in 2025? Let’s rewind to January 2024 and look back at some of the previous forecasts made by real estate companies and banks to see how accurate they were.

• TD forecasted a 3% increase in home prices, and they were spot on!
• RBC predicted a 2% increase, and they got it right too!
• The Canadian Real Estate Association expected a 4% increase, coming close but a bit high.
• RE/MAX had a conservative forecast of a 0.5% increase, direction right but a bit low.

Now, let’s fast forward to 2025. The big question is – will home prices go up or down this year? My predictions for this year are based on a mix of data, trends, and a sprinkle of optimism.

My Predictions for 2025:

1. I predict that national sales numbers will increase, but maybe not as high as long-term trends suggest.
2. Edmonton, Saskatoon, and Montreal will see significant price increases, with a wildcard being Quebec City.
3. Watch out for the Toronto condo market, as prices may continue to soften due to high inventory levels.
4. I foresee the Bank of Canada dropping its policy rate by 1% throughout the year, leading to lower interest rates.
5. Home prices in Canada will most likely remain stable, with a slight increase of up to 3-5%.

What do you think will happen in 2025? Share your predictions in the comments below, and we’ll revisit them next year. Who knows, you might just be featured in my next video! Remember, the real estate market is always changing, so stay informed and dream big!

Until next time, happy predicting, young minds!