Sammy Hudes, The Canadian PressPhil Soper, president and CEO of Royal LePage, joins BNN Bloomberg to discuss real estate and home prices.
“It wasn’t a ‘blow the doors off’ month by any means, but Canada’s housing numbers did perk up a bit on a month-over-month basis in June following the first Bank of Canada rate cut,” said CREA senior economist Shaun Cathcart in a press release. CREA said it is now forecasting just a 2.5 per cent annual increase in the average price of a home for 2024 to to $694,393. That’s down from its previous forecast of a 4.9 per cent increase.
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