Canadians expect housing-price surge

Most Canadians expect home prices to keep rising in 2014, according to a survey by Point2 Homes.

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Fifty-one percent of respondents expect to see a significant jump in local house prices this year, while 26% think they will remain largely unchanged. Only 23% said they expected home prices to decline.

Among respondents who anticipate an increase in real estate prices, the majority think they will rise by 8% on average. Those who said prices will head downwards estimate a drop of 14% on average.

The vast majority of Albertan respondents showed increased confidence in the local housing market fundamentals. While the national average sits somewhere around 51%, two thirds of survey participants in Alberta are confident home prices will continue to rise.

The lowest percentage of positive answers was recorded in Saskatchewan, where only 40% of believe home prices will remain on a growing trajectory.

Among real estate agents, 65% think the housing market is gaining positive momentum, while 50% of buyers and 49% of sellers are convinced prices will go up.

Also read:

U.S. home prices rose 10.8% in April

U.S. new home sales surge 18.6%

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.