Expert: Canada鈥檚 housing market outlook in 2024聽
Interest rates will continue to dictate the outcome of Canada鈥檚 housing market in 2024 with the first and second halves showing different pictures. RBC鈥檚 latest housing report projects slow activity and softer prices in the early part of the year as the鈥疊ank of Canada鈥痬aintains its policy rate at a two-decade high and鈥痟ome ownership鈥痵tays out of reach for many potential buyers. But a鈥痯ivot toward rate cuts鈥痬id-year will get the wheels turning faster over the second half or perhaps even sooner. ()听
Here is an expert from 91社区 who can provide comment on this topic:聽
Moshe Lander, Course Lecturer, Department of Economics鈥�
鈥淐anada鈥檚 housing market is expected to continue to be red hot in 2024.鈥� Despite ten increases in interest rates in the last two years, most major markets and many smaller markets have yet to see any major downward correction in prices.鈥疻ith interest rates expected to fall this year, it is highly unlikely that cuts will take the air out of the market, so the only place to go is up. This should not be surprising.鈥疉t its heart, the housing market continues to run hot because demand significantly outstrips supply.鈥澛�
Moshe Lander is a Course Lecturer in the Department of Economics. His areas of expertise include business, politics, policy, trade, inflation, and unemployment.鈥�
moshe.lander [at] mcgill.ca (贰苍驳濒颈蝉丑)鈥�
