In this video, we go over 5 main reasons why the real estate market set a record year here in Canada during 2021
1. Historical low-interest rates
this gave access to money to everybody! Money was cheaper and more people could qualify for MORE money
2. Low Supply
There were not enough houses on the market available for sale and because there was an increase in sales, supply, and demand, there was a huge increase in price as well
3. Pandemic changing lifestyle needs
Whether it be needing more space to work from home, space for the children, or even from each other, the pandemic changed the demand in what kind of housing people needed
4. Extra Savings
People had a little extra money in their pockets since the pandemic didn't allow us to spend our money (restaurants, concerts, sporting events, etc) or travel outside of Canada
5. Immigration
There was a significant decrease of 45% of immigration in 2020 because of the pandemic, but Canada is back on pace to meet the ambitious goal of bringing in 401k new immigrants by the end of this year
What do you think will happen to the real estate market in 2022?
If you're thinking of making a move in 2022, we're here to help! Contact us today to get started!
Call or text 647-504-0690
Email: steven@mistersauga.ca