Conference Board predicts growth in these markets

Fraser Valley, Toronto, Oshawa, Hamilton and Sherbrooke are the markets expected to see the largest short-term year-over-year MLS price increases according to a new report from the Conference Board of Canada. In its Metro Resale Snapshot the organization predicts that those markets will increase by 7 per cent closely followed by Victoria, Vancouver, St. Catharines, Trois-Rivières with between 5 and 6.9 per cent rises; Winnipeg, Thunder Bay, Kingston, Montréal, Québec City with between 3 and 4.9 per cent increases; and Edmonton, Sudbury, London, Windsor, Ottawa, Gatineau, Halifax with rises of between 0 and 2.9 per cent. Declines are expected for Calgary, Regina, Saskatoon, Saguenay, Saint John, Newfoundland.

Looking at the data for September 2015 the Conference Board’s report notes that there was a monthly decrease in 17 out of 28 metros with Toronto and Vancouver suffering low supply as part of the reason for the slip. Listings were down in 17 markets but the sales-to-listings ratio rose in 14 areas.