Couple of factors which determines the real estate market for 2016

The Canadian housing market is coming off a truly remarkable run. It is because the country is being thronged by several immigrants from all around the world. There are several other factors which are as follows:

The prices of oil- Oil prices have hit lows, which was not witnessed in decades, as the prices of a barrel plummeted more than 60% since June in the year 2014. Currently trading for less than $29 a barrel, the bottom of the barrel seems more like an endless pit.

• It is to be noted that the oil producing countries along with the organization have flooded the market with excessive supply, driving down the cost of crude.


• As a result it has been a downhill slide for the Canadian energy sector that often plays a humongous role in the nationalized economical structure.


• The oil along with gas and mining sector accounts for more than a quarter of the national GDP and numerous workers have been laid off as Canadian oil production has come to a squeal halt.

The trends in the various areas of Canada-To be honest while the energy sector is in superlative shape, it is to be noted that the real estate is to remain in supreme condition particularly in Western Canada. However the market in British Columbia is stepping down, as the prices in Vancouver continues to remain in the zenith. Alberta is definitely taking a hit after experiencing a growth for the past few decades as it has been said and cited by varied individuals providing home for selling and buying in Toronto