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RE/MAX continues to be the authoritative voice in Canada when it comes to all things real estate. Amassing over 2 billion media impressions in 2022 and 8,000+ stories published, we are proud to be the voice of real estate in Canada.
Behind every RE/MAX Report there’s an asset designed for you to share
Over the past few years, RE/MAX has shifted its focus to adapt a broader range of topics for which our network can speak to and provide value. From liveability to affordability to renovation investment reports and our classic housing market outlook reports – there’s sure to be something you can leverage throughout the year to share insights and knowledge with your sphere of influence.
Explore the 2023 RE/MAX Reports
(this list will continue to be updated as new reports are released)
Canadians’ outlook on home ownership remains positive, according to the RE/MAX 2024 Housing Market Outlook Report, despite challenging market conditions in 2023, including a persistent housing shortage, and a tricky interest rate environment. According to the report, the majority of Canadians (73 per cent) are confident that home ownership is the best investment, a sentiment that remains unchanged year-over-year.
National Market Outlook
- 2024 Price Outlook: The national average residential price is expected to rise slightly in 2024, by 0.5%.
- 2024 Sales Outlook: 59% of Canadians housing markets surveyed are anticipating unit sales to increase in 2024.
- 2024 Market Type: 41% are expected to regain balance; 28% to favour sellers; 21% to favour buyers; and 4% to experience mixed conditions.
Consumer Insights
According to a Leger survey commissioned by RE/MAX Canada as part of the report, the majority of Canadians (72 per cent) believe that as municipal, provincial and federal governments make plans to increase housing supply, it’s important that they consider the diversity of the new housing that’s developed. Explore the interactive report on remax.ca to learn more and share the national social graphics and reels to help keep your network informed on market trends.
Regional Highlights
Based on a year-over-year regional analysis by RE/MAX brokers and agents between Jan. 1 and Oct. 31, the majority of regions surveyed noted many homebuyers are looking for primary residential properties with rental potential, to get the most out of their investment and offset the rising cost of living and reduce mortgage payments. This is likely to be a leading influential factor in 2024. Gain insights on what to expect in your housing market by viewing the interactive report on remax.ca and clicking your region’s tile.
Recent economic indicators suggesting that Canadian homebuyers could be facing increasingly strong headwinds in the form of further interest rate hikes signal the end of a short-lived bounce in condominium activity in major markets across the country.
RE/MAX examined close to 100 communities in seven major Canadian condo markets and found that stronger sales in May, June, July and August of this year were no match for year-to-date 2022 levels, given the strength of home-buying activity in the first quarter. Overall sales in the condominium segment fell in all but two markets in the first eight months of 2023, with Calgary climbing a substantial 22 per cent, and sales edging up a nominal three per cent in Edmonton year-over-year.
2023 Canadian Condo Market Trends
- Luxury: At the upper end of the price spectrum, the luxury condo market remains healthy in Toronto and Calgary while activity has slowed at higher price points in Greater Vancouver, Fraser Valley and Halifax. Downsizing buyers who are selling more expensive freehold properties are in large part behind the push for condominiums.
- Location: More and more buyers are willing to go farther afield to realize better value, greater bang for their buck, or avoid land transfer taxes. Others are downsizing their expectations. Many are now expanding their search perimeters due to limited inventory in popular areas and price points—even if it means moving to provinces that offer better value.
- Costs: Maintenance fees and the health of condominium boards are factors cited in buying decisions in several markets. Buyers don’t want unexpected expense outlays, given the already high cost to carry a home. Condos offer an affordable entry-point, but unlike freehold properties, deferring repairs and maintenance are not an option. Therefore, it’s important for buyers to know that there are no surprises. More buyers are doing their due diligence to ensure all is in order.
- Assignments: Assignments represent opportunities at present in markets like Greater Vancouver, Fraser Valley, and the Greater Toronto Area. Many presale buyers active three to four years ago have found that they no longer qualify for mortgages at new interest rate levels. With their purchases nearing completion, many are looking to sell (or assign) their condos to new purchasers, in the hopes of recouping their down payments and possibly some equity gain.
- New Construction: New condominium construction has slowed considerably in most markets, with many new projects delayed or cancelled. In some cases, city approvals have slowed the process, but in most cases, the financial viability of the project just doesn’t make sense in the current economic environment.
Regional Insights
View the interactive report on remax.ca and click the icons to learn about the latest condominium activity in your region.
Social Shareables
There are graphics and reels available for you to download and share on your social channels to help keep your clients and network informed on the latest RE/MAX report.
While Canada grapples with the highest interest rates it’s seen in decades, RE/MAX Canada brokers and agents across the country are reporting that both the interest rate climate and lack of inventory are likely to result in a softer market this fall. The national average residential sale price across all home types is expected to remain flat, with no change anticipated between now and the end of the year.
Highlights
- Average residential price is softening; outliers include larger markets where prices are expected to rise, such as Greater Toronto Area, (+2.5%), Calgary (+4.5%) and Sudbury (+5%).
- 33% of Canadians interested in buying/selling a home in the next 12 months will wait and see how interest rate changes play out.
- Lack of affordable housing inventory leading 55% of Gen Zs and 49% of Millennials to change their housing plans.
Regional Market Trends
Based on RE/MAX broker and agent insights, 44% of housing markets in Canada are expected to be sellers’ markets in 2023, while the rest are anticipated to experience a market mix between balanced, buyers, sellers/balanced and buyers/balanced, depending on location in the specific region. Learn more about what to expect in your housing market by viewing the interactive report on remax.ca and clicking your region’s icon.
Social Shareables
Download the national and regional tiles as well as the reels and share them on your social channels to help keep your clients and contacts informed on the latest housing market trends in Canada.
Upward momentum served to mitigate the decline in detached housing values in the first half of the year, but average price fell short of last year’s levels in most neighbourhoods throughout the Greater Toronto Area (GTA), Greater Vancouver and the Fraser Valley, according to a new report from RE/MAX Canada.
Highlights
- 93% of markets analyzed posted a decline in detached housing values in the first six months of 2023.
- Despite higher interest rates, homebuyers in Toronto and Vancouver engaged in the market in the first half of 2023, taking advantage of lower prices.
- Detached home sales fell in 95% of markets surveyed.
- Affordability was the most significant driver influencing buying activity in the first half of the year.
Regional Market Insights
View the interactive report on remax.ca and click the icons to discover the latest home-buying activity in British Columbia and Ontario.
Social Shareables
There are graphics and reels available for you to download and share on your social channels to help keep your clients and network informed on the latest RE/MAX report.
According to a new report from RE/MAX Canada, move-up buyers – that is, Canadians who already own a home and find themselves in a position to upgrade in the market – have been driving gains in the spring 2023 housing market, as they tried to get ahead of further Bank of Canada of interest rate hikes. These are the findings from a national perspective, and the trends forming in nine of Canada’s biggest housing markets.
National Market Trends
- What began as a trickle of movement into housing markets late in the first quarter turned into a swell, as move-up buyers drove strong demand for residential properties across the country throughout the second quarter of the year.
- Equity gains also factored into Canadians’ decision to move up to larger homes or better neighbourhoods, despite the pandemic-induced rise and fall of real estate value.
- Necessity was the primary factor driving demand through the first half of 2023.
Regional Market Trends
View the interactive report on remax.ca and click the icons to discover the local move-up buyers market insights.
Share the Report Insights on Social
There are graphics and reels available for you to download and share on your social channels to help keep your clients and network informed on the latest RE/MAX report.
As Canada continues to grapple with a supply and affordable housing crisis, RE/MAX Canada explores a feasible solution through its latest report, 15-Minute Neighbourhoods: Lessons for Small Communities.
The report, named for an urban planning concept that puts daily necessities within a 15-minute walk, bicycle or transit ride from home, attempts to highlight this pragmatic approach to building the right supply of affordable housing for the greatest number of Canadians, in a way that delivers maximum liveability – particularly in smaller municipalities that are experiencing rapid growth.
Key Findings
- 45% of drivers and 59% of non-drivers agree that the 15-Minute Neighbourhood is realistic, achievable and feasible.
- 68% of RE/MAX brokers surveyed said affordability is the top consideration for buyers when choosing a neighbourhood.
- 7 in 10 Canadians believe that reducing commute time to 15 minutes or less will improve their quality of life.
Explore the 15-Minute Neighbourhood
Watch videos on remax.ca to see what various communities and landscapes in Canada would look like if they followed the 15-minute neighbourhood concept.
Download the Social Shareables
While caution characterized investment activity in the first three months of 2023, sentiment is shifting in Canada’s commercial sector. Positive indicators have emerged, led by rising demand and the re-entry of major players to the market, suggesting a significant upswing in demand may be in the cards for the back half of the year.
National Market Trends
- Industrial Real Estate: Industrial real estate continued to outperform almost every other asset class, with all markets reporting strong sales and lease activity.
- Vacant Land Sales: Land sales remain solid, despite higher interest rates and construction costs, with acreage zoned industrial, multi-family and retail most sought-after in major Canadian centres.
- Retail Real Estate: Retail real estate activity continues to be surprisingly robust, given the growth of online sales in recent years, with almost 92 per cent of markets (11/12) reporting solid activity in retail nodes and shopping centres.
- Office Sector: The office sector continues to struggle in markets across the country as employers wrestle with hybrid work models, particularly in the downtown core.
- Commercial Conversions: Repurposing of commercial office space to residential planned or underway in major Canadian centres hold key to healthy, vibrant downtown cores, with 50 per cent of markets (6/12) surveyed reporting conversion activity in this growing segment.
Regional Market Insights
View the interactive report on remax.ca and click the icons to discover the local commercial trends.
National & Regional Social Shareables
Share these graphics on your social channels to help keep your clients and contacts informed on the latest commercial market trends.
Amid the long anticipated $1 trillion transfer of wealth from Baby Boomers, coupled with the search for more-affordable housing markets, Generation X now leads the pack in recreational property transactions, with this buying cohort driving activity in 91 per cent of recreational regions surveyed, according to the RE/MAX Canada 2023 Cottage Trends Report.
Following record-setting activity in 2022, the waters have tempered in recreational markets with 50 per cent of regions now experiencing more balanced conditions. Despite demand tapering due to economic uncertainties in the latter half of 2022 and carrying into the first quarter of 2023, RE/MAX brokers and agents anticipate consumer confidence to rise in tandem with the temperature, into “cottage season” and through the remainder of the year. Overall, average residential sale prices are expected to rise by 0.9 per cent.
Consumer Insights
- 36% of Canadians are attracted to the quality of life that a cottage affords compared to urban/larger city centres.
- 57% of Canadians that will inherit a cottage are confident they will be able to take on the affiliated costs.
- 48% of cottage owners said working with a real estate agent led them to consider succession planning.
Regional Trends
View the interactive map on remax.ca and click the icons to discover the local recreational market insights.
Report Social Shareables
Share the graphics, reels and carousels on your social channels to help keep your clients and contacts informed on the latest recreational market trends.
Growing demand for residential properties has trickled into the upper-end of the Canadian real estate market, with luxury sales posting gains in the first quarter of 2023 over the fourth quarter of 2022 in most major Canadian markets.
The newly released RE/MAX Canada report examined luxury market trends in 15 Canadian cities from coast to coast, and found rapid depletion in housing stock is placing upward pressure on values at lower price points and sparking an uptick in demand.
Market-By-Market Highlights
Explore the interactive map on remax.ca and click on each city to discover the local markets insights.
Download the Regional Social Graphics & Reels
This report explores the cultural context and influential trends set to shape the real estate and housing landscape in Canada in the year ahead. Through six key themes, we explore how people’s attitudes and values toward buying, owning, and selling homes are shifting and what these themes mean for real estate agents.
Trends Set to Shape the Real Estate Industry in 2023
Social Shareables
Share these assets on your social channels to help give your clients and contacts the real estate advice they need to face the year ahead.
Amid a fluctuating economic environment, RE/MAX Canada examined how key economic and transactional trends are likely to impact Canadian homebuyers and sellers, the real estate industry and the broader economy in 2023.
Among those who may be interested in buying/selling in 2023, the housing market moderating and regaining balance is the greatest cause for optimism.
Interest rate hikes served to destabilize most major Canadian housing markets beginning in 2022, however a new report from RE/MAX Canada reveals that homeowners are well-positioned to ride out the coming storm in large part due to lower loan-to-value ratios on new mortgages.
The RE/MAX 2023 Canada Housing Barometer Report examined average price and new mortgage values published by CMHC-Equifax Canada in 12 major markets from British Columbia to New Brunswick, to compare loan-to-value (LTV) ratios between Q3 2012 and Q3 2022.
Highlights
- Markets with the lowest appreciation over the 10 year period reported the highest loan to value ratios.
- 8 out of 12 markets analyzed saw the loan-to-value ratio decline over the 10 year period examined.
- Three factors were largely responsible for the downward pressure on loan-to-value ratios over the past decade: equity gains, the pandemic facilitating the ability to work remotely in smaller markets, and the transfer of intergenerational wealth, particularly in the latter half of the last decade and the early 2020s.
RE/MAX experts give an overview of the national housing market and their insights into 2023
Regional Insights
Explore the interactive map on remax.ca and navigate to individual regional reports for housing markets across Canada (or click the links below for quick access)
Quebec & Atlantic Canada
