A 2015 national survey revealed more than a third of Canadian homeowners felt that housing in their area was unaffordable*. Of course, it's important to recognize that housing affordability varies widely by region.

Homeowners in the Atlantic Provinces were most likely, at 83 percent, to feel housing was affordable, while those in British Columbia were the least likely, at 39 percent. Looking ahead, the survey also found that overall, almost two in three homeowners expected housing prices in their area to increase this year while fewer than one in 10 expected them to decrease – although again, this finding varies significantly by location. In Alberta, Manitoba and Saskatchewan, almost one in five (19 percent) said they expect prices to decline within the year, while just three percent of homeowners in Ontario, four percent in British Columbia and four percent in Quebec expect price declines in the same period.

No matter which end of the country you're in, if you're considering moving this year we should sit down now to review your housing needs and expectations for your next home.

The spring market is just around the corner. Please call now for a complimentary, no-obligation market evaluation to help you realize the current value of your property!

From The Virani Team February 2016 Newsletter - Courtesy of Market Connections Inc.

*http://www.manulife.com/public/news/detail/0,,lang=en&artId=148571&navId=630002,00.html