Shaun Cathcart a Senior Economist and Director of Housing Date and Market Analysis at the Canadian Real Estate Association (CREA) delves into the following real estate questions:
- What are the factors that cause the housing market to react? Is it the economy, COVID-19, buyer behaviour, or a combination?
- The stress test for uninsured mortgages remains the same for now. What are Canada’s other current mortgage qualifications that buyers and sellers should know about?
- Inflation is expected to be high in 2022. What impacts will this have on the housing market and mortgage rates?
- Real estate prices have continued to rise. How much higher could they go in 2022, and what would it take for growth to level off?
- How are national home buying policies, such as the stress test, influenced by the trends in leading markets such as Vancouver and Toronto?
- If I’m a buyer or seller in 2022, what can I expect when the spring market comes around? When does that period typically start?
- Is there potential for traditionally smaller markets to surge in 2022 due to peoples’ mindsets and desires around housing changing?
