Le Lézard
Subjects: ANALYSTS' COMMENTS, MISCELLANEOUS

Window on the Real Estate Market for the Quebec City CMA: The Quebec City Market Remains Historically Active Despite the Upward Cycle in Interest Rates


QUEBEC CITY, June 03, 2022 (GLOBE NEWSWIRE) -- The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the month of May. The most recent market statistics for the Quebec City Census Metropolitan Area (CMA) are based on the real estate brokers' Centris provincial database.

"Bucking the provincial trend, the year-to-date trend is still down for active listings. At the same time, transactional activity remains at historically high levels compared to a record 2021. The decline in sales in May was of only 2 per cent, compared to 11 per cent provincially," said Charles Brant, Director of Market Analysis at the QPAREB. "Market conditions therefore continued to favour a certain degree of overheated market activity, without, however, experiencing the kinds of excesses seen in several of the province's southern markets. Price growth is thus more moderate albeit sustained. This moderation can be explained by a much more contained level of overbidding in the Quebec City market, which is a sign of price stability in the medium term, despite a context of rapidly rising interest rates. Quebec City remains a safe and relatively affordable investment for those who want to buy with peace of mind in a market that is experiencing a shift," he added.

May Highlights

Additional information:

Detailed and cumulative statistics for the province and regions

If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please write to us.

About the Quebec Professional Association of Real Estate Brokers

The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 14,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also an important player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec's residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination, and exchange of information. The QPAREB has its head office in Quebec City, administrative offices in Montreal and a regional office in Saguenay. It has two subsidiaries: Société Centris inc. and the Collège de l'immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn, Twitter and Instagram.

About Centris

Centris is a dynamic and innovative technology company in the real estate sector. It collects data and offers solutions that are highly adapted to the needs of professionals. Among these solutions is Centris.ca, the most visited real estate website in Quebec.

For more information:

Marie-Rose Desautels
Morin Relations Publiques
[email protected]

Image bank (credit QPAREB) available free of charge.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e5fd82d3-fd9e-4e77-a248-71758575ab4e




News published on and distributed by: