The real estate industry is predicting a banner year as it looks into its crystal ball for 2020.

Given the doldrums the market showed over the last two years, this news may come as a bit of a surprise.  But who doesn’t enjoy a surprise especially when it’s tied to good news.  Housing industry insiders say this turnaround in the market means sales are anticipated to grow this year. This good news, however, is tempered with cautionary predictions that housing inventory will continue to affect the shape of the market in that supply issues will put pressure on prices.

The Canadian Real Estate Association (CREA) is forecasting “solid” house pricing gains in 2020 thanks in large part to the weak start in home sales that took place at the beginning of 2019. The turnaround that took place in real estate in the second half of 2019 is credited to a fall in new listings, a trend that CREA says will persist into 2020.

“These trends have caused many housing markets to tighten,” said CREA in its year-end quarterly forecast, “which has sharply lowered the national number of months of inventory. This is resulting in increased competition among buyers for listings and providing fertile ground for price gains.”

The Canada Mortgage and Housing Corporation (CMHC) is calling for a recovery of the housing market this year with an expectation that out-of-control pricing in Toronto and Vancouver markets will settle.

According to the Toronto Star, the national housing agency suggests a rebound in Toronto house prices in the next two years by as much as five per cent. That would put the average home between $765,300 and $898,400. It forecasts that prices could average $949,400 by the end of 2021, which is a 10.5 per cent hike over 2019 prices.

Increased consumer confidence will drive gains in 2020, which according to leading Canadian real estate franchises are pegged at a house price appreciation of 3.2 per cent and 3.7 per cent, respectively.

According to Canada Mortgage Trends, the Bank of Canada is expected to cut the lending rate in 2020 and deliver a 25-basis points rate cut. An RBC economist wrote that the cut should come in the second quarter of the year, however, continued strength in the housing market could translate to inaction on the Bank of Canada’s side. The mortgage information blog went on to say that some experts expect a cut in mortgage rates by July.

Sources: Canada Mortgage Trends, CREA, CHMC, RE/MAX, Toronto Star

By mid January we’re holidayed out. Often by now, we’ve turned off the timers on our Christmas lights and our only tree leftovers are those pesky evergreen needles that got caught in area rugs, furnishings and heating vents.

For many the post holiday period is a time of curtailment. And while you may be watching what you eat and drink, restricting your spending and trying to limit your Netflix viewing, now is not the time to skimp on your outdoor decorating especially if your house is on the market.

And though it could be argued that buyers trudging through ice and snow to view your home are likely highly motivated, that doesn’t mean you shouldn’t try to heighten your home’s curb appeal. Let’s look at environmentally friendly ways to make your home stand out amid the New Year frost.

Not all holiday decorations need to go into storage come January. If you’ve furnished your front porch in a plethora of greenery, pine cones, branches and berries, these classic signs of winter are an attractive reminder of the season.  Nothing says welcome quite like the natural simplicity of a burlap bow and a boxwood. It’s a good idea to pack away any glitz and glitter décor items or ones that scream Christmas at this time of year.

Lanterns are a pretty way to decorate your outdoors. They come in all shapes, sizes and décor styles so you would be hard pressed not to find one that suits your design aesthetic. Depending on the amount of space you’re decorating, a grouping of three lanterns looks eye-catching. What adds to the mood of this decorative device is the fact that you can lend extra ambiance to your front entry by adding flameless candles to each lantern.  The realistic flickering light from these candles will provide your home with a warm welcoming vibe.

Since colour is hibernating at this time of year, you can incorporate splashes of colour in your outdoor décor. A colourful welcome mat at your front door, tastefully placed outdoor chairs in bright colours and a cold-hardy plant such as juniper or a topiary placed in a colourful pot near your front entry are all striking and inviting touches. One surefire way to add colour is to repaint your front door.

Be kind to wildlife with feeder garlands that will attract all kinds of birds and animals to your home. You can also add cheer to your outdoors thanks to colourful bird feeders strategically placed. Not only do these look pretty thanks to their colour and shape, they also serve to provide a sanctuary for our feathered friends.