{"id":2023,"date":"2020-02-05T18:49:41","date_gmt":"2020-02-05T23:49:41","guid":{"rendered":"http:\/\/theelite3team.com\/blog\/?p=2023"},"modified":"2020-02-05T18:49:42","modified_gmt":"2020-02-05T23:49:42","slug":"things-are-finally-looking-up-for-the-real-estate-market","status":"publish","type":"post","link":"https:\/\/theelite3team.com\/blog\/2020\/02\/05\/things-are-finally-looking-up-for-the-real-estate-market\/","title":{"rendered":"Things are finally looking up for the Real Estate Market"},"content":{"rendered":"\n<p><strong>The Story in 2018 and early 2019 was weak sales; story in 2020 will be lack of supply &#8211; CREA<\/strong><\/p>\n\n\n\n<p>Did you know that the housing inventory in the last quarter was at its lowest in the decade? According to the Canadian Real Estate Association, the number of newly listed homes slid a further 1.8% in December, driven mainly by fewer new listings in the GTA and Ottawa.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"942\" height=\"513\" src=\"http:\/\/theelite3team.com\/blog\/wp-content\/uploads\/2020\/02\/WeChat-Screenshot_20200205184553.jpg\" alt=\"\" class=\"wp-image-2024\" srcset=\"https:\/\/theelite3team.com\/blog\/wp-content\/uploads\/2020\/02\/WeChat-Screenshot_20200205184553.jpg 942w, https:\/\/theelite3team.com\/blog\/wp-content\/uploads\/2020\/02\/WeChat-Screenshot_20200205184553-300x163.jpg 300w, https:\/\/theelite3team.com\/blog\/wp-content\/uploads\/2020\/02\/WeChat-Screenshot_20200205184553-768x418.jpg 768w\" sizes=\"(max-width: 942px) 100vw, 942px\" \/><\/figure>\n\n\n\n<p>Furthermore, the Bank of Canada is widely expected to not\nraise interest rates and the low mortgage rates in 2019 are expected to\ncontinue throughout the new year. According to the letter by Prime Minister\nJustin Trudeau, there can be potential adjustments by Federal Finance Minister\nBill Morneau to the Federal Stress Test Criteria, providing more flexibility\nwhen qualifying borrowers. The growth in population and income also indicates\nthe increase in qualified home buyers, hence the high demand for housing.<\/p>\n\n\n\n<p>If this trend continues, there will be an increase in competition between buyers, and if the housing supply rate remains low, we are highly expected to see an escalation in prices. The CMHC Housing Market Outlook also forecasted the house prices to elevate in 2020. This means that the Canadian Real Estate Spring Market is expected to be hotter than usual and The GTA is likely to be a Seller\u2019s Market this year!<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Photo credit:  <a rel=\"noreferrer noopener\" href=\"https:\/\/www.instagram.com\/p\/Blv0MwQgeLq\/?taken-by=thelandofdustin\" target=\"_blank\">@thelandofdustin\/Instagram<\/a> <\/p>\n\n\n\n<p>https:\/\/www.cmhc-schl.gc.ca\/en\/housing-observer-online\/2019-housing-observer\/housing-activity-expected-recover-2020<br>https:\/\/www.crea.ca\/housing-market-stats\/quarterly-forecasts\/<br>https:\/\/www.insauga.com\/heres-what-the-housing-market-will-look-like-in-2020-in-mississauga<br>https:\/\/www.zoocasa.com\/blog\/housing-market-predictions-2020\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Story in 2018 and early 2019 was weak sales; story in 2020 will be lack of supply &#8211; CREA Did you know that the housing inventory in the last &hellip; [<a href=\"https:\/\/theelite3team.com\/blog\/2020\/02\/05\/things-are-finally-looking-up-for-the-real-estate-market\/\">read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":2024,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Things are finally looking up for the Real Estate Market - Find what you are interested...<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theelite3team.com\/blog\/2020\/02\/05\/things-are-finally-looking-up-for-the-real-estate-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Things are finally looking up for the Real Estate Market - Find what you are interested...\" \/>\n<meta property=\"og:description\" content=\"The Story in 2018 and early 2019 was weak sales; story in 2020 will be lack of supply &#8211; CREA Did you know that the housing inventory in the last &hellip; [read more]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/theelite3team.com\/blog\/2020\/02\/05\/things-are-finally-looking-up-for-the-real-estate-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Find what you are interested...\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-05T23:49:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-05T23:49:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/theelite3team.com\/blog\/wp-content\/uploads\/2020\/02\/WeChat-Screenshot_20200205184553.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"942\" \/>\n\t<meta property=\"og:image:height\" content=\"513\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Elite 3\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Elite 3\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/theelite3team.com\\\/blog\\\/2020\\\/02\\\/05\\\/things-are-finally-looking-up-for-the-real-estate-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/theelite3team.com\\\/blog\\\/2020\\\/02\\\/05\\\/things-are-finally-looking-up-for-the-real-estate-market\\\/\"},\"author\":{\"name\":\"Elite 3\",\"@id\":\"https:\\\/\\\/theelite3team.com\\\/blog\\\/#\\\/schema\\\/person\\\/e2fda51c00cd6893b26f8499406a1174\"},\"headline\":\"Things are finally looking up for the Real Estate Market\",\"datePublished\":\"2020-02-05T23:49:41+00:00\",\"dateModified\":\"2020-02-05T23:49:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/theelite3team.com\\\/blog\\\/2020\\\/02\\\/05\\\/things-are-finally-looking-up-for-the-real-estate-market\\\/\"},\"wordCount\":256,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/theelite3team.com\\\/blog\\\/2020\\\/02\\\/05\\\/things-are-finally-looking-up-for-the-real-estate-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/theelite3team.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/WeChat-Screenshot_20200205184553.jpg\",\"articleSection\":[\"Real Estate Tips &amp; 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