Economic fundamentals and the link to real estate sales

Any fluctuation in the real estate market is generally believed to follow the fluctuation of job creation and security. As Michel Beauséjour, CEO of the Greater Montreal Real Estate board has put it: “Obviously Montreal is not immune from the economic uncertainties facing consumers today. There are three variables that affect the real estate market – interest rates, job creation and consumer confidence. Consumer confidence has dropped for the last two months and employment in Montréal is on the decline as well.”

So it only follows that it would seem that buying real estate would be the last thing on people’s minds right now, as people begin to hear news about job losses. If this is something on your mind, we would encourage you to take a look at how many jobs are on Monster, Workopolis, the papers, and so on. While it may be true that some sectors are suffering, others are looking to staff, and some report worker shortages- and we think this is important to keep in mind.

We also encourage you to read the report Emploi Québec has produced here. This will give Quebecers an idea of what the job market is predicted to look like in the near future.