Experts have indicated Canada will need to build millions more homes in the next 10 years to meet our growing needs. To the casual observer the problem is easy to solve: just build more homes. For those in the real estate development field, the problem is much more complicated than this.
Congress Home Price
Across the country as a whole, Congress is in the top 20% when all of Canada’s suburbs are listed in order of real estate listing prices.
The $399,000 price tag on the median Congress home means that it is quite highly priced by Canadian standards.
It’s never an exact art, but to try to forecast how property is going to appreciate in Congress for investors, it’s important to look at data like:
In Congress, housing stock has stayed the same over the last three months, which would tend to mean that home supply and demand are equal.
Can we guarantee how well Congress is going to do next year? No, but we can look at the data we have and use it as a starting point before doing research.
The amount of homes for sale in neighbourhood has stayed the same over the last three months – this means that supply and demand economics would mean that the pressure on house prices has also remained constant.
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