This repository contains a comprehensive analysis of the Canadian real estate market for the years 2019 to 2023. The analysis explores population growth, housing dynamics, affordability trends, economic influences, and regional variations. The goal is to provide insights and strategic recommendations for stakeholders in the real estate sector.
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Data: The Data was extracted from The Canadian Real Estate Association- CREA, which cover the Aggregate Composite MLS® Home Price Index (HPI), as well as the different housing types sales prices across many Canada provinces and cities from January 2005 to October 2023.
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Notebooks: Jupyter notebooks containing the entire analysis, with clear sections for data cleaning, exploration, visualization, and insights. (https://shorturl.at/evDHQ)
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Visualizations: Includes visualizations generated during the analysis, aiding in the understanding of trends and patterns.
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Results: Summarized insights, recommendations, and key findings from the analysis.
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README.md: This file, providing an overview of the project, its structure, and key insights.
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Population Growth and Housing Dynamics: Highlighting the impact of international migration and interprovincial influences on housing demand.
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Housing Market Trends and Economic Influences: Addressing trends in different housing types, economic stagnation, and the sensitivity of markets to interest rates.
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Regional Disparities and Inflation Management: Analyzing provincial variations, urban challenges, and the impact of inflation on shelter prices.
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Temporal Trends and Regional Rankings: Utilizing mean Composite HPI, standard deviations, and regional rankings for data-driven decision-making.
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Variability and Monetary Policy: Examining regional differences, city-specific trends, and the influence of monetary policies on interest rates.
- Adaptability in Supply: Policymakers should focus on housing adaptability to cater to diverse preferences arising from migration.
- Interest Rate Sensitivity: Consider the sensitivity of housing markets to interest rates for balanced economic growth and affordability.
- Nuanced Regional Approaches: Adopt nuanced approaches recognizing regional variations in the real estate landscape.
- Data-Informed Decision-Making: Stakeholders should leverage summary stats and temporal trends for informed decision-making.
The Canadian real estate landscape requires adaptability, informed decision-making, and strategic planning for a balanced, sustainable, and inclusive housing market.