No "doom and gloom" in store for Canadian real estate – Royal LePage’s Soper

by Ephraim Vecina29 Jul 2020


Sustained market strength, subject to supply constraints, will be the predominant dynamic in the Canadian housing sector for the rest of the year, according to Royal LePage CEO Phil Soper and Sotheby’s Canada CEO Don Kottick.


In a joint interview with The Financial Post, the two executives highlighted the major role that housing inventory will play in the period immediately after the COVID-19 pandemic eases.

Soper said that home prices largely rely on the balance between supply and buyer activity.

“There are a lot of people who are looking to put roofs over their heads,” Soper said. “We just don’t see the number of homes for sale, the supply side of this, climbing to the point where home prices will collapse.”

Royal LePage’s latest predictions have placed annual growth by year-end at 2.5%.


https://www.canadianrealestatemagazine.ca/news/no-doom-and-gloom-in-store-for-canadian-real-estate--royal-lepages-soper-331927.aspx

MORTGAGE RATE FORECAST......BCREA


As the year ends, it's worth reflecting on how significantly the Canadian interest rate environment has changed in just twelve months. One year ago, the Canadian yield curve was its usual upward sloping shape, with markets expecting gradual rate increases by the Bank of Canada. Based partly on those expectations, Canadian mortgage rates were climbing. However, within 8 months the yield curve in Canada had inverted, bond yields tumbled, and Canadian mortgage rates were once again heading lower.


https://www.bcrea.bc.ca/economics/mortgage-rate-forecast/


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Sunday June 23rd, 2:00 PM to 4:00 PM we will be hosting an Open House at 1571 RUPERT Street in the Lower Lynn neighborhood of North Vancouver.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Lower Lynn House for sale.

As always please do not hesitate to give us a call if we can answer any questions before the open house, or if you would like to book a private showing.

Judi Whyte/ Robbi-Layne
Prudential Sussex Realty

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Please note the change for this upcoming openhouse.

We are proud to announce that this Jun 22nd, 12:00 PM to 2:00 PM we will be hosting an Open House at 960 LYNN VALLEY Road in Balmoral House in the Lynn Valley neighborhood, North Vancouver. This is an opportunity to visit this excellent Condo for sale in beautiful Lynn Valley.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Lynn Valley Condo for sale.

As always please do not hesitate to give me a call at if I can answer any questions before the open house, or if you would like to book a private showing.

Judi Whyte/ Robbi-Layne
Prudential Sussex Realty

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