Perspectives
Real estate update: Why the market is likely to heat up this spring
Feb 19, 2025
Join Tracy Gomes, Senior VP of Real Estate Secured Lending at Scotiabank, and Jean-François Perrault, Chief Economist at Scotiabank, as they dissect the current Canadian housing market. They discuss recent buyer-friendly regulations and rising optimism for the spring season. Learn how immigration policies might impact demand and what sentiment is like from those active in real estate. They also ponder what buyers should consider when diving into the market this spring, amidst a backdrop of fluctuating interest rates and construction dynamics.
22:59
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Quick takeaways
- Recent regulatory changes, including increased mortgage caps and extended amortization periods, are making homeownership more accessible for Canadians.
- Despite some challenges in supply and demand, optimism persists for a strong spring real estate market driven by lower interest rates and buyer urgency.
Deep dives
Optimism in the Real Estate Market
The Canadian real estate market shows signs of optimism for the year ahead, particularly with expectations for a robust 2025 season. Lower interest rates have played a significant role in encouraging potential homebuyers who had previously been hesitant to re-enter the market. Additionally, recent regulatory changes have made purchasing a first home more accessible for many Canadians, lifting some psychological barriers that kept buyers on the sidelines. As a result, both mortgage growth and home purchase activity are anticipated to improve compared to the previous year.
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