The Real Estate Market in Vancouver and Toronto Could Calm Down in 2017

If a quarterly economic forecast from TD Bank is to be believed, the Vancouver and Toronto real estate market -- Canada's so called luxury market -- could experience a cool down in 2017.

Economic forecast findings

According to TD, affordability and higher borrowing costs could lead to "cooling in domestic and foreign housing demand."

However, unless the Canadian government approves a measure baring property speculation, this cool down isn't likely to occur until 2017.

And even with this potential slow down, TD revealed that "there tends to be a lag before weaker resale demand translates into a moderation in building activity."

Considering a move to either Vancouver or Toronto? You might want to wait until next year to see if TD's predictions come true! As they themselves claim, eventually "the party will come to an end."

For those of you who are ready to move however (real estate market be damned), don't forget to fill out a free quote form to get started finding movers in your area!