Hamilton’s brutal housing market shows no signs of relenting, according to a new report forecasting that the average house price in 2022 could reach over $900,000.
The report by RE/MAX in their 2022 Canadian Housing Market Outlook predicts that 2022’s market conditions will be very much a seller’s market, with the estimated average home price predicted to be $909,503.
RE/MAX 2022-CANADIAN HOUSING MARKET OUTLOOKhttps://t.co/ZgmdRnPU9n#canadianrealestate #ottawarealestateteam pic.twitter.com/kirK9osmlW
— Nancy Benson (@NancyBensonOtt) December 7, 2021
It would be a sharp 16 per cent increase from the average home price in 2021, which RE/MAX lists as $784,054 from January 1st to October 31st.
The report also notes that townhomes saw the largest year-over-year price increase in 2021 at 24 per cent, and that “move-up and mover-over buyers” are expected to drive housing demand in the Hamilton region next year.
On a national level, the report indicates that 62 per cent of Canadians are currently homeowners, and that around 8 per cent of them are planning to sell or move up in the market in 2022.
Read the full report on the RE/MAX website.
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