1 February 2018

TREB expects real estate sales to vary within 85,000 and 95,000 limits in 2018, which is slightly lower than 92,394 sales reported last year.

In the same time, the board also says the average housing price will reach $800,000-$850,000 – quite close to the previous year’s forecasts.

“The midpoint of these numbers suggests a small increase of the selling price in 2018,” – the report says. Last year, we saw the average price at $822,681.

Today, the housing market shows some signs of cooling, following a busy start of the previous year, another rate hike by the central bank in January, an increase of the five-year fixed mortgage rates and a new mortgage stress taking effect.