Based on the available data, RE/MAX's housing market outlook for 2022 is positive - with a prediction of a 9.2% rise in residential housing prices. This is based on two major factors:
- High rates of inter-provincial migration in many regions.
- A continuing shortage in housing supply.
Click here to see a larger version of these tables
or
Insights for Ontario
Continued price growth is expected to hold steady across the province, with the largest increases expected in smaller markets such as Collingwood (10% increase) and Muskoka (20%). This is credited to high levels of intra-province migration. In larger cities, the prospect of increased immigration levels is predicted to fuel price growth in municipalities like Brampton (8% increase), Toronto (10%) and Mississauga (12%). Other key statistics from RE/MAX's report include:- 23% of Canadians have a greater desire to build their own home or buy pre-construction
- 26% of Canadians want to buy homes while mortgage rates remain low.
- 72% of Canadians said that rising home prices did not affect their purchasing decisions in 2021
- 43% of Canadians trust their agent to advise them through the current real estate landscape.
For a deeper dive into the 2022 housing market outlook for specific municipalities, click the links below:
Burlington York Region London Muskoka Peterborough - Kawartha Lakes Kingston
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