Canada Mortgage and Housing Corporation (CMHC) just released Market Outlook 2020 for major Canadian cities. Let’s have a look at our area Kitchener-Cambridge-Waterloo (KCW). Here are the highlights:
- Seasonally adjusted average prices in Kitchener-Cambridge-Waterloo (KCW) have been climbing since the fourth quarter of 2018;
- For the next two years (2020-2021) the resale market in KCW will be characterized by a steady increase in sales and prices;
- Population growth is expected to continue to be a strong driver of housing demand;
- Employment outlook is generally positive due to the strength of the technology sector;
- Total housing starts in 2020 will be moderate compared to 2019, but will remain above the 10-year historical average;
- The rental market is expected to remain tight. The effects of supply additions is unlikely to boost the vacancy rate;
- The fastest growing segment of the population, seniors, is expected to continue its steady growth and will make up just under 16 percent of the population in KCW by 2021.
![](https://i0.wp.com/greenterrarealty.com/wp-content/uploads/2019/10/chart.png?resize=889%2C605&ssl=1)
If you are thinking to move and decide you’d like some professional expertise, we would love to hear from you. We, realtors, have our fingers on the pulse of the market.