What to Expect in 2025: A Look Back at 2024, and Ahead<\/p>\n\n\n\n
As 2025 begins, let\u2019s take a look back at 2024\u2014the wins, the lessons, and what\u2019s on the horizon for this new year. Spoiler alert: There\u2019s a lot to be excited about if you\u2019re following the real estate market in Qu\u00e9bec!<\/p>\n\n\n\n
The Economy Takes the Spotlight<\/strong> What\u2019s Driving Demand? Challenges on the Horizon<\/strong> 2025: A Bright Horizon As always, my team and I are here to guide you through every step of your real estate journey. Whether it\u2019s finding your dream home, selling your current property, or navigating the ever-changing market, count on us.. What to Expect in 2025: A Look Back at 2024, and Ahead As 2025 begins, let\u2019s take a look back at 2024\u2014the wins, the lessons, and what\u2019s on the horizon for this new year. Spoiler alert: There\u2019s a lot to be excited about if you\u2019re following the real estate market in Qu\u00e9bec! The Economy Takes […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[84],"tags":[],"class_list":["post-419348","post","type-post","status-publish","format-standard","hentry","category-real-estate-and-news"],"acf":[],"yoast_head":"\n
One of the biggest wins of 2024: The Canadian economy got inflation under control, with numbers landing below the target rate of 2%. This stands in sharp contrast to our neighbours to the South, who are still grappling with runaway inflation.
As a result: Interest rates in Canada dropped significantly toward the end of 2024\u2014a trend experts predict will continue into 2025.
These rate drops sparked a surge in transactions in the fall, with October and November seeing over 40% more sales than the same months in 2023. This contributed to a remarkable 19% year-over-year increase in total sales for Qu\u00e9bec, jumping from 75,000 transactions in 2023 to over 90,000 in 2024, a whopping 15,000 additional transactions!<\/p>\n\n\n\n
<\/strong>2024 revealed some interesting buyer trends.
The rise of remote work continues to fuel demand for properties just outside major cities.
According to Jean-Philippe Meloche, a professor of architecture and urban studies at the Universit\u00e9 de Montr\u00e9al, buyers are gravitating toward areas close enough for the occasional commute but far enough to enjoy larger homes, more amenities, and better value for their money.
Additionally, with new construction lagging, and Qu\u00e9bec\u2019s population growing rapidly, experts expect resale properties to remain in high demand.
For 2025, prices are projected to increase across the board, with condo values rising by 6% to 7%, and similar growth anticipated for single-family homes.<\/p>\n\n\n\n
Of course, it\u2019s not all smooth sailing.
One key source of uncertainty in 2025 is the ongoing trade negotiations with the U.S., specifically around tariffs. If blanket tariffs are imposed, Canada\u2019s GDP could take a hit of up to 6%, potentially leading to a recession.
That said, there\u2019s good news for Qu\u00e9bec: Our economy is one of the most diversified in the world, meaning we\u2019re better positioned than other provinces to weather economic turbulence. On top of that, this could be a perfect opportunity for Canadians to address interprovincial trade barriers. Eliminating these barriers could boost Canada\u2019s GDP by 4%, making us stronger together.<\/p>\n\n\n\n
<\/strong>Despite some uncertainties, the foundation is set for another strong year in real estate.
A robust economy, steady demand, and limited inventory, all point to continued price growth and market activity.<\/p>\n\n\n\n
Here\u2019s to a successful, exciting, and prosperous 2025!<\/p>\n","protected":false},"excerpt":{"rendered":"