Will Nova Scotia housing market go down?

According to the Canada Mortgage and Housing Corporation’s latest market outlook, home prices in Nova Scotia will likely continue increasing between 2022 and 2024, but at a slower pace. While some might think Canada is currently inside a housing bubble, Hines said local realtors think otherwise.

Is it a good time to buy a house in Nova Scotia?

Nova Scotia isn’t only safe, with its low case numbers of COVID-19, it is also attractive to many out of province investors for its lower home prices and higher rental prices than many other provinces.

Will house prices drop in Halifax?

According to the Canada Mortgage and Housing Corporation’s latest housing market outlook, home prices in Nova Scotia will continue increasing between 2022 and 2024, “albeit at a slower pace.”

Is a housing crash coming Canada?

Don’t count on it, says RBC economist. Homebuying activity in Canada is slowing from its frenzied pace of the past two years – but the prospect of a housing market crash appears slim, according to a prominent Royal Bank of Canada (RBC) economist.

Is there a housing crisis in Nova Scotia?

Housing developments in HRM John Lohr says housing shortages are a major challenge for Nova Scotians across the province – especially in the Halifax region – and now is the time to act. The province estimates the current housing deficit in the Halifax region to be at least 17,000 units and growing.

Is it a good time to buy house in Halifax?

Halifax is currently a seller’s market due to low inventory across all property types. The region experienced an influx of migratory homebuyers from larger Canadian cities in 2020, and they are expected to continue to drive the Halifax housing market forward in 2021, with single-detached homes being in highest demand.

What are house prices going to do in 2022?

Based on this data, Capital Economics has forecast house prices to rise throughout 2022, before falling by 5% in 2023.