Affordability remains a drag – but CEO says Canadians still aspire to own a home
A hot topic of debate in the real estate sector since then is whether a ramping-up of return-to-office efforts could see buyers turn their attention back to cities and away from suburban and rural areas, but Kottick isn’t convinced.
“It’s not happening like, flip a switch and everybody’s back. It’s something that’s kind of a work in progress,” he said. “There’s a lot of discussion on it, a lot of talk on it – and probably a lot of resistance to it.”
Regional picture varies, but much will depend on BoC for 2027
About 32% of housing markets analyzed by RE/MAX’s latest report now sit in buyer’s market territory, a jump from 15.2% last year, as softer conditions emerge in many parts of the country.
Home sales were down in 81% of markets analyzed, the survey said. But while the outlook for the national market is cloudy, it’s often highlighted that the regional picture can vary widely from one province or city to the next – and prices actually increased in 56% of markets.
Some regional markets are still showing notable strength, Kottick said, with Northern Ontario cities including Sudbury, Thunder Bay, Kenora and Sault Ste. Marie seeing sellers’ market conditions holding.
