#2015

Hamilton’s Housing Market to Continue Hot Streak into the New Year

Major Canadian bank economists say Hamilton will continue to be one of the strongest housing markets in the country in 2015.

Hamilton-Ontario

Some predictions are even more striking.

“For 2015-2016, Hamilton is the only city where we actually have home prices growing over the two years,” said TD real estate economist Diana Petramala.

The TD analysis looks at the largest 14 cities in Canada.

‘For 2015-2016, Hamilton is the only city where we actually have home prices growing over the two years.’- TD real estate economist Diana Petramala

Over the last few years, Hamilton’s housing market has been hot, often ahead of the pack in how much prices rose or how many homes sold. The market has been a frequent talking point, its strength touted as evidence of the city’s vibrancy.

Hamilton, where prices rose six per cent last year, has been experiencing the kind of sales and price activity more typical in Vancouver, Calgary and Toronto. While the rest of the country may wonder about the continued strength of local housing markets, Hamilton appears poised to remain hot in 2015.

BMO Financial Group economists expect national housing prices to “scratch out a small gain” in 2015, said chief economist Doug Porter.

No scratching expected in Hamilton.

“I have to say the dynamics in Hamilton looks to be one of the firmer markets in the country,” Porter said.

Continue reading here