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Open House. Open House on Sunday, July 26, 2026 12:00PM - 2:00PM
Open Houses

Open House. Open House on Sunday, July 26, 2026 12:00PM - 2:00PM

Please visit our Open House at 164 Silverado Range CLOSE SW in Calgary. See details here Open House on Sunday, July 26, 2026 12:00PM ...

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New property listed in Copperfield, Calgary
New Listings

New property listed in Copperfield, Calgary

I have listed a new property at 414 117 Copperpond COMMON in Calgary. See details here Enjoy sunny south facing exposure and step onto ...

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New property listed in Silverado, Calgary
New Listings

New property listed in Silverado, Calgary

I have listed a new property at 164 Silverado Range CLOSE SW in Calgary. See details here Move-in ready and meticulously maintained, ...

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Open House. Open House on Saturday, July 18, 2026 1:00PM - 3:00PM
Open Houses

Open House. Open House on Saturday, July 18, 2026 1:00PM - 3:00PM

Please visit our Open House at 164 Silverado Range CLOSE SW in Calgary. See details here Open House on Saturday, July 18, 2026 1:00PM ...

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Latest Blog Posts

Open House. Open House on Sunday, July 26, 2026 12:00PM - 2:00PM

Please visit our Open House at 164 Silverado Range CLOSE SW in Calgary. See details here Open House on Sunday, July 26, 2026 12:00PM - 2:00PM Move-in ready and meticulously maintained, ...

Posted by Chalsey Bugeaud on Jul 26, 2026 Read post

New property listed in Copperfield, Calgary

I have listed a new property at 414 117 Copperpond COMMON in Calgary. See details here Enjoy sunny south facing exposure and step onto your private top floor balcony to take in beautiful ...

Posted by Chalsey Bugeaud on Jul 15, 2026 Read post

New property listed in Silverado, Calgary

I have listed a new property at 164 Silverado Range CLOSE SW in Calgary. See details here Move-in ready and meticulously maintained, this beautifully renovated home offers the perfect ...

Posted by Chalsey Bugeaud on Jul 15, 2026 Read post

Open House. Open House on Saturday, July 18, 2026 1:00PM - 3:00PM

Please visit our Open House at 164 Silverado Range CLOSE SW in Calgary. See details here Open House on Saturday, July 18, 2026 1:00PM - 3:00PM Move-in ready and meticulously maintained, ...

Posted by Chalsey Bugeaud on Jul 15, 2026 Read post
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New property listed in Strathmore, Strathmore
I have listed a new property at 1720 Strathcona PLACE in Strathmore.
This beautiful bungalow is waiting for you! And if you're looking for a Massive Garage and a place to park a trailer this home has it all. Situated on a quiet street with no one backing onto you and a green space behind for added privacy. The front of this home offers a large deck perfect for your morning coffee, and from the moment you step inside, you'll appreciate the HIGH VAULTED CEILINGS and OPEN floor plan. The huge kitchen features ample storage, lots of counter space and a nook perfect for family dinner or entertaining. The kitchen is located off the back and has tons of light which overlooks the yard. Next to the kitchen you have a beautiful living room which boasts a large window allowing natural light to pour through all day. The primary suite has 3 piece ensuite, walk-in closet, and an additional 4 piece bath just down the hall. The second bedroom on the main floor is massive with an extra sitting area. The basement has been thoughtfully designed with a generous family room, and an additional bedroom with walk in closet. Just outside the Rec area there is a perfect space for an office or bar, bathroom rough in and loads of storage space. Outside you have a fully landscaped yard with a deck and oversized double heated garage/shop that features a 10' ceiling with a 18'x8' garage door. Next to the garage you will find a great space to park a trailer or additional vehicles. The park/green space is conveniently located just out the back of this property, close enough for the kids to play or to take the pups for a ball throw. It is within walking distance from the schools, and has easy access to all amenities, shopping, restaurants, & coffee shops. Some lucky family will start new memories in this beautiful home, why not make it you! Check out the 3D tour of this amazing home. Excellent opportunity!!!
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-This beautiful bungalow is waiting for you! And if you're looking for a Massive Garage and a place to park a trailer this home has it all. Situated on a quiet street with no one backing onto you and a green space behind for added privacy.
-The front of this home offers a large deck
-HIGH VAULTED CEILINGS and OPEN floor plan.
-The huge kitchen features ample storage, lots of counter space and a nook
-Beautiful living room with tons of natural light
-Primary suite has 3 piece ensuite, walk-in closet,
-4 piece bath just down the hall.
-The second bedroom main floor is massive with an extra sitting area.
-The basement has a huge family room, additional bedroom bath rough in
-Fully landscaped yard with a deck.
-Oversized double heated garage/shop that features a 10' ceiling
-Space to park a trailer or additional vehicles.
-The park/green space is just out the back of this property.
It is within walking distance from the schools, and has easy access to all amenities, shopping, restaurants, & coffee shops.
Chalsey Bugeaud
403-669-2083
chalsey@ironrealty.ca
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Hey! Chalsey with Iron Realty in Calgary AB. (Remax iRealty) Today I am talking about how we need to be more prepared than ever to buy a home in this Market. This is no Joke, the prep before you make an offer is imperative. I will be doing a 3 part series on this topic, subscribe and like to keep in the know about all things Real Estate. Oh and my name is not said how its spelt my parents said they just didn't know how to spell the name lol, its just the normal pronunciation.
Chalsey Bugeaud
403-669-2083
chalsey@ironrealty.ca
 
 
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8 Popular Home Design Features for 2022

8 Popular Home Design Features for 2022


There’s a lot to consider when selling your home, from market conditions and appraisals to where you’ll go next. Don’t forget, however, the importance of design. It’s often one of the first things buyers notice when they walk into a home, and it’s also a detail that you, as a seller, can easily control.


According to Realtor.ca’s 2022 housing market forecast, October of 2021 saw record home sales.1 Even with the pandemic igniting new restrictions in some provinces, the Canadian housing market is expected to remain hot. This means, if you’re looking to sell in the near future, now is the time to consider how you can stand out.


Updating your home design is one way to do that. Changes like eco-friendly fixtures or upgraded siding can add value to your home now and be highlighted when you market it for sale later. To get the most out of your updates, focus on these popular home design features that will wow buyers in 2022.


Keep in mind, not all of these will work well in every house. If you plan to buy, list, or renovate a property, give us a call. We can help you realize your vision and maximize the impact of your investment.


Eco-Friendly Fixtures


Canada’s largest demographic, millennials, has been a driving force in the country’s real estate market for the past few years. One thing that remains top of mind for this cohort is sustainable living features. A recent Deloitte survey found that one-third of millennials initiate or deepen their consumer investment in products or services that help the environment—this also includes the houses they choose to live in.2


Here are a few eco-friendly design features that will be attractive to these millennial buyers in 2022. Bonus: they can net a significant return on investment (ROI) for you, as a seller, too. 

●      Energy-Efficient Windows: Windows and doors account for up to 25 percent of home heat loss, according to nrcan.gc.ca.3 Therefore, upgrading to energy-efficient windows can help homeowners save money. 

●      Low-Flow Water Fixtures: National Resources Canada also recommends replacing your water-consuming fixtures like showerheads, toilets, and faucets with ones that have flow rates of about 7.6 L/minute, 4.8L/flush, and 4L/minute, respectively.4 If you want to take it a step further, ENERGY STAR® certified appliances like dishwashers and washing machines will also make a dramatic difference in water bill savings. 

●      Native Landscaping: Perhaps unexpectedly, another eco-friendly ‘fixture’ is native flora. Local greenery helps combat biodiversity loss, creates a better habitat for wildlife, and has a greater resistance to pests, according to HGTV.5 These benefits of native plants add to the eco-friendly appeal of your home. 

Wellness Retreat Nooks


As many of our homes became “all-purpose” territory for the entire family, interior zoning efforts were in full effect. From designated offices to closed-door playrooms, everyone needed their own space. Add in mental health concerns, competing schedules, and reduced access to health and wellness facilities, and the result is a huge prioritization of personal care spaces.  


At-home wellness amenities, which were once viewed as luxuries, are now on many homeowners’ must-have lists. Intrigue buyers and improve your quality of life in your home with reading nooks, spa-inspired bathrooms, and exercise or meditation spaces. Even if your house doesn’t have the square footage to section off an entire room for relaxation, making simple tweaks to natural light, air purifiers, and indoor plants can help you feel better in your home now, while enabling future buyers to see the opportunity for their own space.

 

Calming Paint Colours


Paint colors that produce a calming atmosphere will also be a key selling point in 2022. Soft earth tones and natural hues will prevail this year, including various shades of blue, green, brown, and beige. Recent research suggests steering clear of trendy paint colors in favor of a more classic palette to bring the feel of nature indoors in a subtle and soothing way.6


A survey of American homebuyers found that a certain paint colour was able to increase a home’s value by 1.6%.6 If we Canadians see even a 1% increase, that’s $7,208 more for the average home, which is priced at $720,850, according to the Financial Post.7


A crowd-pleasing hue to refresh the walls with is BEHR’s 2022 paint colour of the year, known as Breezeway.8 This shade of green with silver undertones was created to mimic sea glass. As the BEHR website describes it, Breezeway “evokes feelings of coolness and peace, while representing a desire to move forward and discover newfound passions.” 


Outdoor Living Updates


Don’t forget to think about your yard when considering design changes for your home. As interiors become more productive, many Canadians are looking to the outdoors for a break. HGTV predicts the “exterior living room” trend will continue in 2022, so making outdoor upgrades in the spring when the ground thaws could reap serious benefits.9 Whether your exterior square footage looks like a balcony, small patio, or expansive yard, it only takes some imagination and effort to turn it into a comforting oasis.


Front porches, in particular, are seeing a big revival, says Greenhouse Canada.10 Power-washing your siding; adding a fresh coat of paint on the door, brick, or floorboards; and finishing it off with some exterior lighting will go a long way in upping the curb appeal.11 Don’t forget to add window boxes, big planters, and young trees that require minimal maintenance but add more life to the space.


Finish off the space with some comfortable outdoor furniture to make the outdoors as well-designed as the indoors. If you need help deciding how to update your outdoor area, let us guide you.


Designated Work Spaces


It may come as no surprise that after the pandemic is over, 80 percent of new teleworkers want to continue to work at least half of their hours from home, according to Statistics Canada.12 However, this desire needs to be weighed against the availability of space in a home. 


If you can, try turning a bedroom or den into a work-from-home office. When designing the space, make it both functional and aesthetically pleasing. Position a desk near the window for natural light, install a bookshelf unit, arrange a few succulents on the work surface, and hang a few framed posters or a cork bulletin board on the wall. You want the space to foster productivity as well as be a place in your home you enjoy spending time.


When you get ready to sell, we can help you highlight your designated workspace. Given the high demand for this design feature, it can help you interest more buyers and attract more competitive offers—if marketed creatively. 


Plus, Canadians who transitioned to working from home because of the pandemic may be eligible to claim a $500 deduction for home office expenses—making this renovation that much more feasible.13

 

Luxury Kitchen Retouches


The kitchen has always been a main focal point of interior design, and that’s no different in 2022. Families will always need this space to come together in their own homes. 


This year’s buyers want a kitchen with new upgrades and retouches, but you don’t have to renovate the entire kitchen to make an impact. If you’re not sure where to start, here are a few tips on how to create a kitchen that buyers will love without spending too much money on renovations:

●      Repaint the kitchen, keeping the calm and nature-inspired colours in mind that are most popular right now. Taking a kitchen from dark to light by painting cabinets and walls can make all the difference.

●      Update the hardware. These kitchen “accessories” stand out and add personality to an otherwise standard kitchen. 

●      Update light fixtures to bring in more light while also adding a fresh look and feel in the space. 


Unique Accent Walls


An accent wall gives a home character while balancing it with the calming feel of natural- and neutral-coloured walls. But, we’ve seen accent walls before, so bolder moves are expected for 2022. Here are some on-trend options that go above and beyond a solid-colour accent wall:

●      Jewel or metallic tones

●      Textured wallpaper

●      Painted ceilings

●      Built-in shelves

●      Wood paneling14

●      Sprawling wall tiles 15


If you’re planning to sell in the next year, talk to us before adding an accent wall. Depending on your target buyer, it may be a design feature that actually hurts your home’s value. We can run a free Comparative Market Analysis on your home to help you understand what would resell best in your neighbourhood.


Exterior Siding Updates


An exterior siding refresh can make an old home feel entirely new and have a big impact on its resale value. This primarily affects curb appeal, but it’s also an important factor in keeping interiors warm and protected from Canada’s harsh winters. The average cost for new siding ranges from $4.80 - $51.60 per square foot[1] .16 That variation depends on which of the many siding materials you choose, from fiber-cement to brick, wood, vinyl, metal, or stone. 


While all these options can infuse the exterior with character and curb appeal, there are a few other factors to consider before taking on this kind of project. While brick adds more sophistication, it is on the pricier end and is susceptible to salt erosion, making it a less enticing option for those on the coasts. On the other end of the cost spectrum, vinyl is a very popular option that does not fade, is easy to maintain, and comes in many colour options.17 However, vinyl will crack over time after facing harsh Canadian winters. 


Give your home this simple and attractive facelift before putting it on the market. If you’re not sure how to get started yourself, our team can connect you with a trusted vendor to guide you through the process. 


Keep These Home Design Features on Your Radar in 2022


These design features can infuse personality into your home while helping to close the deal if you plan to sell in 2022. The average buyer knows just what they’re looking for in a space they plan to call home, so with some investment and foresight, you can give your house an edge over the competition—and boost resale value in the process.


However, you don’t need to make all these changes to attract more buyers. We can help you determine which design features you should add to your home by sharing insights and tips on how to maximize the return on your investment. We can also run a Comparative Market Analysis on your home to find out how it compares to others in the area, which will help us decide what changes need to be made. Contact us to schedule a free consultation!

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I have sold a property at 143 Masters HEIGHTS SE in Calgary
I have sold a property at 143 Masters HEIGHTS SE in Calgary.
FULLY DEVELOPED | OVER 60K SPENT ON LANDSCAPING | This home is absolutely pristine and every level is professionally developed. Incredibly quiet street with 2486 square feet of developed living space only minutes to the Wetlands in the award winning community of Mahogany. Enjoy unexpected living spaces & unique designs in this stylish home, which features seamless flow between rooms & a place for everyone to enjoy. A Greatroom features a cozy fireplace that provides plenty of space for the family & is the perfect place for your crew to relax. The dining area sits off to the side & has ample space for all your family gatherings. This home keeps its open concept, but is partitioned in a way that the main floor doesn't feel like all one room. Directly adjacent is access to your deck that's very private and perfectly situated to open up the an immaculately designed yard with a patio, pond, and pergola where a fire place could be added as this owner has . The Rear kitchen is stunning & features 10 foot ceilings, a centre island, modern grey cabinets, classy backsplash tile, gas range with stand alone hoodfan, and built in Microwave, walk in pantry and huge windows above the kitchen sink . Tucked just off the kitchen is a tech space that could also function as added kitchen storage or your very own cappuccino bar! Or use it for your computer area. Upstairs you are greeted by the oversized back entertainment room with vaulted ceiling that will make family movie nights a treat, with brand new Top Quality Karastan Carpet, that is also carried through the basement. . The Owners Suite takes up the entire front of the home and features a luxurious 4 piece ensuite with dual sinks, full sized shower & an oversized walk in closet. There are also 2 additional bedrooms, additional 4 piece bathroom, and an upper laundry room that will make wash day a breeze. This home features a LENNOX HEPA HIGH-EFFICIENCY AIR FILTRATION SYSTEM that has Hospital-grade filtration performance that is amazing for allergies and removing dirt, dust, and germs, and a UV light attached to the Cold air returns to be sure nothing is missed. To top it off a New Water Softener was recently installed. But that's not all!! A fully finished basement provides even more space and turns this home from a three bedroom home into a four bedroom home. A cozy rec room with a bar and beverage fridge provides a space to escape. The options are endless depending on your needs.!! A fourth bedroom with a Murphy bed, 3 piece bathroom with in floor Heating, and storage ensures you won't ever run out of space! Outside, is your beautifully designed yard with that provides ample space, and multiple sitting areas to enjoy those long summer evenings, Along with R/I for Irrigation. All this a short walk to the wetlands, playgrounds, shops & of course the main beach. A must see!!
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I have sold a property at 40024 306 AVENUE E in Rural Foothills County
I have sold a property at 40024 306 AVENUE E in Rural Foothills County.
Here is a fabulous, big, country acreage done up just the way you have dreamed. 20 big, heavily treed acres, a big 2950 sq ft sprawling ranch bungalow, with a fully finished walk out basement and a triple car attached garage. A big total of 5500+ sq ft of developed space. Big out buildings- a newer 2400 sq ft shop and an older 1900sq ft quonset, both with concrete floors and heat. All through wonderful architectural gates and at the end of a paved, tree lined driveway. The homes immediate yard has been beautifully landscaped, a fabulous tiered composite deck with a pergola, bbq and dining areas and an integrated hot tub fill the west side enclave. Over some years the home has been completely transformed, back to the studs, all new exterior, hardie board, windows and doors, shingles, steps, deck, sky lights, parging etc. The interior upgrades are stunning; hard pine floors, tile floors, an absolutely incredible kitchen with top level stainless steel appliances, tons of alder cabinets to the ceilings, a huge island, a walk in pantry and gorgeous granite countertops, all new bathrooms, upgraded mechanicals (2011), water supply lines, all new doors casing and trim. This beautiful bungalow has a fabulous layout and feel, tons of windows and sky lights allow natural light to flood the entire home. From the front entrance, you pass the office and powder room and are invited into the massive family room space with a nice brick fireplace, a living room for more quaint get togethers, the entertainers dining room/kitchen spaces that open out to the deck. In the more private areas of the home, an enclosed breezeway/mud area joins the garage to the home, followed by an oversized laundry room, two generous bedrooms, a 4 piece and a 3piece bath, then the spacious primary retreat with a wonderful 5 piece ensuite and direct access to the deck and hot tub. The lower walk out level, has two more bedrooms with walk in closets a 4 piece bath, a theater room, a craft room and loads of open spaces for games room, he/she cave, a gym, your collections what ever you could need, two cold rooms and two mechanical rooms. The property is fully perimeter fenced, is cross fenced for some animals and has two wells. The newer shop (2012) has in-floor heat, floor drains, aluminum outside, full insulation and aluminum inside as well as epoxy finished concrete floors. This property is in catchment area for the Heritage Heights School- bus picks up at the end of the lane. Country acreages like this are very hard to find. This truly is a fabulous place!
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In this video I am talking about what things to do to increase the value of your home and if its worth it, dollar for dollar. Visit the my blog for all things Real Estate.
Chalsey Bugeaud- IRON REALTY- Remax iRealty Innovations
403-669-2083
chalsey@ironrealty.ca
Free Sellers/ Buyers Guide https://ironrealty.ca/registration.html
 
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New property listed in Mahogany, Calgary
I have listed a new property at 143 Masters HEIGHTS SE in Calgary.
FULLY DEVELOPED | OVER 60K SPENT ON LANDSCAPING | This home is absolutely pristine and every level is professionally developed. Incredibly quiet street with 2486 square feet of developed living space only minutes to the Wetlands in the award winning community of Mahogany. Enjoy unexpected living spaces & unique designs in this stylish home, which features seamless flow between rooms & a place for everyone to enjoy. A Greatroom features a cozy fireplace that provides plenty of space for the family & is the perfect place for your crew to relax. The dining area sits off to the side & has ample space for all your family gatherings. This home keeps its open concept, but is partitioned in a way that the main floor doesn't feel like all one room. Directly adjacent is access to your deck that's very private and perfectly situated to open up the an immaculately designed yard with a patio, pond, and pergola where a fire place could be added as this owner has . The Rear kitchen is stunning & features 10 foot ceilings, a centre island, modern grey cabinets, classy backsplash tile, gas range with stand alone hoodfan, and built in Microwave, walk in pantry and huge windows above the kitchen sink . Tucked just off the kitchen is a tech space that could also function as added kitchen storage or your very own cappuccino bar! Or use it for your computer area. Upstairs you are greeted by the oversized back entertainment room with vaulted ceiling that will make family movie nights a treat. The Owners Suite takes up the entire front of the home and features a luxurious 4 piece ensuite with dual sinks, full sized shower & an oversized walk in closet. There are also 2 additional bedrooms, additional 4 piece bathroom, and an upper laundry room that will make wash day a breeze. This home features a LENNOX HEPA HIGH-EFFICIENCY AIR FILTRATION SYSTEM that has Hospital-grade filtration performance that is amazing for allergies and removing dirt, dust, and germs, and a UV light attached to the Cold air returns to be sure nothing is missed. To top it off a New Water Softener was recently installed. But that's not all!! A fully finished basement provides even more space and turns this home from a three bedroom home into a four bedroom home. A cozy rec room with a bar and beverage fridge provides a space to escape. The options are endless depending on your needs.!! A fourth bedroom with a Murphy bed, 3 piece bathroom with in floor Heating, and storage ensures you won't ever run out of space! Outside, is your beautifully designed yard with that provides ample space, and multiple sitting areas to enjoy those long summer evenings, Along with R/I for Irrigation. All this a short walk to the wetlands, playgrounds, shops & of course the main beach. A must see!!
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Return to "Normal"? The State of Real Estate in 2022

A Return to ‘Normal’? The State of Real Estate in 2022



Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that led to a record number of home sales and a historically-high rate of appreciation, as prices soared by a national average of 19.9% year over year, according to the Canadian Real Estate Association.1


There were signs in the second quarter that the red-hot housing market was beginning to simmer down. In June, the pace of sales slowed while the average sales price dipped 5.5% below the springtime peak.2


But just when the market seemed to be cooling, home prices and sales volume ticked up again in the fall, leading the Royal Bank of Canada to speculate: “Canada’s housing market run has more in the tank.”3


So what’s ahead for the Canadian real estate market in 2022? Here’s where industry experts predict the market is headed in the coming year.


 

MORTGAGE RATES WILL CREEP UP


The Bank of Canada has signalled that it plans to begin raising interest rates in the “middle quarters” of this year.4 What does that mean for mortgage rates?


Expect higher variable mortgage rates to come. In fact, according to industry trade blog Canadian Mortgage Trends, some lenders have already begun raising their variable rates in preparation. And according to the site, “Current market forecasts show the Bank of Canada on track for seven quarter-point (25 bps) rate hikes by the end of 2023, with Scotiabank expecting eight rate hikes.”5

 

Since September, fixed mortgage rates—which follow the 5-year Bank of Canada bond yield—have also been climbing.5 Fortunately, economists believe the housing sector is well-positioned to absorb these higher interest rates.


Derek Holt, Scotiabank vice president and head of capital markets economics, told Canadian Mortgage Professional magazine in November, “The large increase in cash balances that occurred over the pandemic combined with the record-high amount of home equity on Canadian balance sheets, to me, paints a picture of a household sector that can manage the rate shock we’re likely to get.”4


What does it mean for you? Low mortgage rates can reduce your monthly payment, make it easier to qualify for a mortgage, and make homeownership more affordable. Fortunately, there’s still time to take advantage of historically-low rates. We’d be happy to connect you with a trusted lending professional in our network.



VOLUME OF SALES WILL DECREASE


A record number of homes were sold in Canada last year. The Canadian Real Estate Association estimates that 656,300 home purchases took place, which is an 18.8% increase over 2020.6 So it’s no surprise that the pace of sales would eventually slow.


The association predicts that, nationally, the number of home sales will fall by 12.1% in 2022, which would still make 2022 the second-best year on record.1


It attributes this relative slowdown to affordability challenges and a lack of inventory but expects sales volume to remain high by historical standards. “Limited supply and higher prices are expected to tap the brakes on activity in 2022 compared to 2021, although increased churn in resale markets resulting from the COVID-related shake-up to so many people’s lives may continue to boost activity above what was normal before COVID-19.”6


What does it mean for you? The frenzied market we experienced last year required a drop-everything commitment from many of our clients, so a slower pace of sales should be a welcome relief. However, buyers should still be prepared to compete for the best properties. We can help you craft a compelling offer without compromising your best interests.



THE MARKET WILL BECOME MORE BALANCED

 

In 2021, we experienced one of the most competitive real estate markets ever. Fears about the virus, a shift to remote work, and economic stimulus triggered a huge uptick in demand. At the same time, many existing homeowners delayed their plans to sell, and supply and labour shortages hindered new construction.

 

This led to an extreme market imbalance that benefitted sellers and frustrated buyers. According to Abhilasha Singh, an economist at Moody’s Analytics, “almost all indicators of housing market activity shot through the roof.” But, she continued, “The housing market is now showing signs of returning to earth.”7


The Royal Bank of Canada expects to see demand soften gradually as rising prices and interest rates push the cost of homeownership out of reach for many would-be buyers.3 And while the supply of available homes continues to remain low, according to Singh, “the pace of building in Canada remains elevated compared with historical averages thanks to low interest rates.”7

 

What does it mean for you? If you struggled to buy a home last year, there may be some relief on the horizon. Softening demand could make it easier to finally secure the home of your dreams. If you’re a seller, it’s still a great time to cash out your big equity gains! And with less competition and a slower pace of sales, you’ll have an easier time finding your next home. Reach out for a free consultation so we can discuss your specific needs and goals.


 

HOME PRICES LIKELY TO KEEP CLIMBING, BUT AT A SLOWER PACE

 

Nationwide, home prices rose an average of 19.9% in 2021. But the rate of appreciation is expected to slow down in 2022. The Canadian Real Estate Association forecasts that the national average home price will increase by 5.6% to $718,000 in 2022.6


Singh of Moody’s Analytics agrees that price growth will slow this year and could “reach a near standstill in late 2022 but avoid any significant contractions.”7


However, some experts caution against a “wait and see” mentality for buyers. “Affordability is unlikely to improve [this] year as prices should march higher, even as interest rates creep upwards as well,” Rishi Sondhi, an economist at TD Economics, told Reuters. “We think rate hikes will weigh on, but not upend, demand, as the macro backdrop should remain supportive for sales.”8


What does it mean for you? If you’re a buyer who has been waiting on the sidelines for home prices to drop, you may be out of luck. Even if home prices dip slightly (and most economists expect them to rise) any savings are likely to be offset by higher mortgage rates. The good news is that decreased competition means more choice and less likelihood of a bidding war. We can help you get the most for your money in today’s market.



WE’RE HERE TO GUIDE YOU


While national real estate numbers and predictions can provide a “big picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home values in your particular neighbourhood.


If you’re considering buying or selling a home in 2022, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year.



Sources:

1.     Toronto Sun -
https://torontosun.com/life/homes/real-estate-market-on-track-to-break-records

2.     National Post -
https://nationalpost.com/life/homes/the-great-real-estate-cool-down-has-come

3.     Royal Bank of Canada -
https://thoughtleadership.rbc.com/canadas-housing-market-run-has-more-in-the-tank/

4.     Canadian Mortgage Professional Magazine -
https://www.mpamag.com/ca/mortgage-industry/industry-trends/how-likely-is-a-canada-housing-crash/315742

5.     Canadian Mortgage Trends -
https://www.canadianmortgagetrends.com/2021/11/fixed-rate-increases-costing-todays-homebuyers-over-10000-more-in-interest/

6.     Canadian Real Estate Association -
https://www.crea.ca/housing-market-stats/quarterly-forecasts/

7.     Moody's Analytics -
https://www.moodysanalytics.com/-/media/article/2021/10-canada-housing-market-outlook.pdf

8.     Reuters -
https://www.reuters.com/article/canada-property-poll-idCAKBN2IM06V

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.