The Canadian housing market is closing out 2024 with unexpected strength, as home sales surged by 12% quarter-over-quarter in Q4, according to TD Economics. This sharp rise has shifted earlier forecasts, with TD now predicting that sales have already reached pre-pandemic levels—ahead of schedule.
The strongest gains were observed in British Columbia and Ontario, highlighting the resilience of these key markets. Factors contributing to this growth include falling borrowing costs, robust economic expansion, and recent changes to mortgage regulations introduced in December. Together, these elements are creating a more favorable landscape for buyers and sellers alike.
For those navigating the competitive North Vancouver & West Vancouver housing market, this momentum signals an excellent time to consider buying or selling a property. Curious about what this means for your next move? Let's connect.
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