The top five Canadian real estate markets to watch in 2020 are Vancouver, Toronto, Ottawa, Halifax, and Montreal, according to Emerging Trends in Real Estate® 2020.
The “Markets to Watch” section of the 2017 edition of Emerging Trends in Real Estate® offers an expanded look at all 78 markets included in this year’s survey, including the industry outlook for the primary markets in the U.S. Pacific Northwest. Here is the industry outlook for the primary markets in the U.S. Pacific Northwest.
Multifamily commercial transactions vaulted last month, even as all other sectors declined, but buyer appetite showed overall strength. The stall in employment growth and decline in unemployment rate does raise questions about the economy.
Industrial and retail property sectors gathered steam as absorption vaulted; retail rents reversed their 4.5-year slide. Commercial property transactions calmed down following an impressive end-of-year spike, but buyer appetite otherwise showed strength.
Buyer appetite for commercial property hit post-recession highs; permits and starts of all housing types continue to hit high notes; condominium sales are staging a strong comeback.
Buyer appetite for commercial property softened a bit; the upward trajectory of permits and starts of all housing types is unabated; economic indicators continue to reflect sustained moderate growth.
Apartment fundamentals shine even brighter; buyer appetite for commercial property continues unabated as prices close in on four-year highs and cap rates compress; economic indicators point to sustained moderate growth.
Commercial property returns slowed but buyer appetite remained steady. Permits, starts and new homes sales are at multi-year highs; the release of IPhone 5 boosted retail sales.
Lows and highs were energized this month: unemployment dropped to an almost four-year low; cap rates stayed near four-year lows, but moved enough to suggest a broadening buyer appetite for secondary markets; CMBS issuance vaulted to an almost five-year high; and multifamily permits were near four-year highs.
Apartment fundamentals are sizzling as rents and vacancy rates continued to improve; completions continued their U-shaped recovery, and absorption doubled. Commercial property transactions dropped sharply in all but the office sector, where transactions were just slightly off; prices barely changed, remaining at three-year highs. Economic indicators, at best, point to a pause in near-term optimism.
