Canadian homeowners face a more complex market than ever | Home Affairs

There are very few homes for sale in Canada so people are starting to call it a housing problem.

Unprecedented unrest has left Canada with fewer homes being sold for nearly a quarter of a century.

The country had about 86,000 homes remaining to be sold by the end of December due to climate change, according to a study by the Canadian Real Estate Association. That is all that was left of buyers when they bought 667,000 homes in 2021, about 20% more than the annual average.

Given this trend, real estate prices have risen 2.5% in December since last month, and have risen 26.6% since last year.

“Currently there are fewer properties for sale in Canada than they were listed,” Shaun Cathcart, chief financial officer at the Housing Authority, told reporters in a statement following the incident. it could get worse before it gets better. ”

National figures follow what appeared earlier this month in the cheapest markets in Canada, Toronto and Vancouver, where existing homes are much lower than before. This has reinforced the notion that the lack of land is causing inflation which has pushed up the price of housing away from most Canadians working in big cities, regardless of whether they buy or rent.

A growing problem is that the housing crisis has begun to push politicians to seek solutions. Canadian house price is now C $ 811,700 (approximately $ 648,000)

“The planners are starting to say the right things, but now they have to change the course we are taking,” said Cathcart of the space agency. “The national pressure to build more homes is the solution, but it must be bigger than anything we have ever done. Touching the current situation will not solve the problem.

At the moment, with very little left to buy in Canada, sales momentum is declining. The number of monthly events did not change slightly in December compared to November, although this was enough for the second largest group of sales recorded in the last month of the year.