The national aggregate home price is forecast to rise by 4.5 per cent year-over-year to $791,170 in the fourth quarter of 2023 as demand continues to compete with limited housing supply, Royal LePage said. While the average price of a home in Canada in the first quarter of the year fell 9.2 per cent to $778,300 from the same period a year earlier, those prices rose 2.8 per cent from the prior quarter following the Bank of Canada’s first interest rate pause, it added.
Soper added that many buyers who paused their home search until they saw how prices and interest rates would land have now resumed their hunt. “Unfortunately, the challenge they must now deal with is a severe shortage of homes for sale,” he said. The findings revealed that of those Canadians who paused their search for a home last year, 26 per cent said they plan to return this spring and another 36 per cent said they would return once the BoC held rates for several consecutive months.
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Royal LePage again? Aren't they the brainiacs that said housing would go up 15% through 2022?
Why BoC will not be in a rush to drop rates.
Why ask the barber whether you need a haircut when you already know his answer? Don't they have a vested interest in giving you a biased opinion?
Real estate firm sees prices going up? How shocking
Home prices need to fall further down
Fomo propaganda HousingCrisis cdnpoli
Gr8