Canada’s residential real estate market saw significant year-over-year price appreciation in the fourth quarter of 2016, supported by considerable gains in the Greater Toronto Area (GTA) and Greater Vancouver, according to the Royal LePage House Price Survey[1] and Market Survey Forecast released today. Looking ahead, Royal LePage expects the regional extremes in house price appreciation that characterized the national real estate market in 2016 to narrow in 2017.

What can we look forward to this fall?

Home prices were relatively flat during 2015. A lower Canadian dollar and U.S. economic growth should fuel service and manufacturing sector dynamism in 2016, improving employment levels and consumer confidence, and providing a lift to home prices.

Royal LePage is proud to team up with Desjardins and National Bank to help you buy your new property! From February 1 to July 31, 2016, the Royal LePage 1 year Mortgage-Free Contest will offer you a chance to win one year without mortgage payments up to $12,000.

There is no official start or end date for this annual housing scenario but February proved that this year, the market is off to a quick and strong start. The spring real estate market is perceived to be the most robust time of year when we see serious buyers and sellers come out of hibernation.