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Housing market forecast to continue to gain value

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Canada’s resale real estate market is expected to continue to gain in value for the rest of the year, driven by markets like Edmonton and Calgary, a new report shows

Royal LePage Canada released last month its forecast for the remainder of this year, noting prices on average across the nation will gain five per cent year-over-year.

Edmonton’s aggregate average price is forecast to increase by nine per cent by year’s end to $466,956 up from $428,400 in 2021.Article content Royal LePage predicts that Ottawa will have the second largest percentage jump in price at 10 per cent, from $739,700 at the end of last year to $813,670 by the end of 2022.

In Calgary, by contrast, the condominium sector is still recovering from a drop in demand and oversupply, Soper adds.

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