Canadian Real Estate Market Update – Q3 2024

Canada’s economic outlook is brimming with optimism, with a high probability that the nation will see a “Soft Landing” over the next 12-18 months, as projected by Fiera Capital. In this scenario, central banks around the globe successfully navigate inflationary pressures without pushing economies into recession, paving the way for a balanced, sustainable economic environment. This approach, featuring calculated monetary policy shifts and rate cuts, is designed to manage growth without overheating, allowing for a smooth transition into the next cycle of expansion.

Canada’s real estate market reflects this growing confidence. In Q2 2024, investment volumes surged 67.4% quarter-over-quarter, hitting an impressive $14.5 billion—the highest quarterly total since 2022. The number of transactions soared to 2,662, marking a nine-quarter high. The industrial sector led with $4.5 billion in transactions, while multi-residential investments reached a nine-quarter peak at $3.5 billion. Key markets like Toronto, Montreal, and Vancouver posted robust gains, underscoring the resilience and adaptability of Canada’s investment landscape. As conditions continue to stabilize, this performance signals renewed strength and marks the beginning of a promising recovery cycle for Canadian investors and market players alike.