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Median house prices in Canada 2018-2020

Median house prices in Canada from 2018 to 2020 (in Canadian dollars)

by Jennifer Rudden, last edited Aug 9, 2019
Median house prices in Canada 2018-2020 The average Canadian house price in 2020 was forecasted to be 489,800 Canadian dollars, down from 488,100 Canadian dollars in 2018. The forecast shows that 2019 prices are set to be the lowest in the three year period.
Home sales also falling

The number of housing units sold is also set to decrease by 2019. This decrease in demand among buyers suggests that sellers won’t be able to command such high prices, which is reflected in this forecast. British Columbia and Ontario have traditionally been housing markets with prices above the Canadian average, but these markets are set to cool in 2019. There are several reasons for this, including the foreign buyers tax in British Columbia, higher interest rates and more stringent mortgage qualification rules.

Consumer confidence in real estate remains high

However, Canadians overwhelmingly believe that property values will either increase or remain the same. This confidence stands in stark relief to the forecasts, but only time will tell whether consumer confidence will prove the analysis wrong.
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Median house prices in Canada from 2018 to 2020 (in Canadian dollars)

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