Despite the tightening of mortgage rules, the housing market is not rife in Quebec. On the contrary, after the surprise increases of 2017, economists predict that the level of activity and real estate prices will continue to climb in 2018.
According to the Quebec Federation of Real Estate Boards (QFREB), which held its annual conference Thursday, the resale market for houses, plexes and condominiums should, for the first time ever, shatter the threshold of 85 000 residential real estate transactions next year.
Not only should the level of activity grow by 3%, to reach 85,400 transactions, but the median selling price of homes (all types) should increase by as much (3%) to reach some $ 251,000. next year.
“Despite the anticipated rise in interest rates and another tightening of mortgage rules, (…) the demand for housing will be strong, explained this morning, the economist Paul Cardinal, director of the CFIQ Market Analysis Department.